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Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Support Digital Asset Providers
The State Bank of Pakistan has officially lifted its seven-year ban on providing services to cryptocurrency businesses, allowing banks and financial institutions to open accounts for licensed crypto firms. However, these institutions are restricted from using their own funds or customer deposits to invest in, trade, or hold digital assets. This move follows the introduction of the 2026 Virtual As…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Serve Crypto Firms
The State Bank of Pakistan has officially lifted its ban on banks providing services to cryptocurrency companies, issuing a notice to all financial institutions in the country. However, the new regulations stipulate that banks are not allowed to use their own funds or customer deposits to invest in, trade, or hold cryptocurrency. This move comes after the implementation of the 2026 Virtual Assets…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Ban, Enables Banks to Support Crypto Businesses
The State Bank of Pakistan has officially lifted its ban on providing services to cryptocurrency firms, notifying all banks and financial institutions of the change. However, the new regulations stipulate that banks are not permitted to use their own funds or customer deposits to invest in, trade, or hold cryptocurrency assets. This development follows the recent passage of the Virtual Assets Act…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Offer Services to Crypto Providers
The State Bank of Pakistan has officially lifted its seven-year ban on providing banking services to cryptocurrency businesses, enabling banks to offer their services to these companies. However, the new regulations stipulate that banks are not permitted to invest in, trade, or hold cryptocurrencies using their own funds or customer deposits. This development follows the recent passage of the Vir…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Offer Services to Crypto Providers
The central bank of Pakistan has officially lifted its seven-year ban on providing banking services to cryptocurrency businesses. However, financial institutions are still restricted from investing in, trading, or holding digital assets using their own funds or customer deposits. This move follows the introduction of the Virtual Assets Act of 2026, which established the Pakistan Virtual Asset Reg…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Support Digital Asset Providers
The State Bank of Pakistan has officially lifted its seven-year prohibition on banks providing services to cryptocurrency businesses. However, the new regulations stipulate that banks are still not allowed to invest in, trade, or hold cryptocurrency using either their own funds or customer deposits. This development comes after the implementation of the Virtual Assets Act of 2026, which establish…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Support Digital Asset Providers
The central bank of Pakistan has officially lifted its seven-year prohibition on providing services to cryptocurrency companies. However, banks are still restricted from using their own funds or customer deposits to invest in, trade, or hold digital assets. This development follows the enactment of the Virtual Assets Act of 2026, which established the Pakistan Virtual Asset Regulatory Authority t…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Support Digital Asset Providers
The State Bank of Pakistan has officially lifted its seven-year ban on providing services to cryptocurrency companies, allowing banks and financial institutions to open accounts for licensed crypto firms. However, these institutions are still barred from using their own funds or customer deposits to invest in, trade, or hold digital assets. This move follows the introduction of the 2026 Virtual A…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Serve Crypto Firms
The State Bank of Pakistan has officially lifted its seven-year ban on providing services to cryptocurrency companies, allowing banks and financial institutions to open accounts for crypto firms that have been approved by the Pakistan Virtual Asset Regulatory Authority (PVARA). While the new rules permit banks to provide services to virtual asset service providers, they are strictly prohibited f…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Cater to Crypto Firms
The State Bank of Pakistan has officially lifted its seven-year ban on providing services to cryptocurrency companies, notifying all banks and financial institutions of the change. While the new rules prohibit banks from investing in, trading, or holding cryptocurrency using their own funds or customer deposits, they are now permitted to open accounts for crypto firms licensed by the Pakistan V…
April 15, 2026, 1:01 p.m.