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Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Serve Crypto Firms
The State Bank of Pakistan has officially lifted its ban on crypto services, notifying all banks and financial institutions that they are allowed to provide services to cryptocurrency firms. However, they are still barred from using their own funds or customer deposits to invest, trade, or hold cryptocurrency assets. This move follows the recent enactment of the Virtual Assets Act of 2026, which …
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 ban on providing services to cryptocurrency businesses, notifying all banks and financial institutions of the policy change. While the new rules allow banks to offer services to crypto companies, they explicitly prohibit these institutions from using their own funds or customer deposits to invest in, trade, or hold crypto assets. This devel…
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 firms, notifying all banks and financial institutions of the change. However, banks are still barred from using their own funds or customer deposits to invest in, trade, or hold crypto assets. This move follows the recent passage of the 2026 Virtual Assets Act, which established the Pakista…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Restriction, Enabling Banks to Support Crypto Providers
The State Bank of Pakistan has notified all banks and financial institutions that the ban on providing services to cryptocurrency companies has been lifted. However, banks are still prohibited from using their own funds or customer deposits to invest in, trade, or hold cryptocurrencies, according to new regulations. This move follows the recent introduction of the Virtual Assets Act of 2026, whic…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Enables Banks to Serve Crypto Firms
The State Bank of Pakistan has officially lifted its ban on banks providing services to cryptocurrency firms, allowing them to open accounts for licensed virtual asset service providers. However, financial institutions are still barred from investing in or trading cryptocurrencies using their own funds or customer deposits. This move follows the introduction of the 2026 Virtual Assets Act, which …
April 15, 2026, 1:01 p.m.
Policy
Pakistan Ends Seven-Year Cryptocurrency Ban, Permitting Banks to Support Crypto Businesses
The State Bank of Pakistan has officially lifted its ban on banks providing services to cryptocurrency firms, a move that comes after the introduction of the 2026 Virtual Assets Act. This new legislation established the Pakistan Virtual Asset Regulatory Authority, which oversees and regulates the sector. As a result, banks can now open accounts for approved crypto businesses, but they are not all…
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 banking services to cryptocurrency companies, allowing banks to open accounts for crypto firms that have been approved by the Pakistan Virtual Asset Regulatory Authority (PVARA). However, the new regulations stipulate that banks are not allowed to use their own funds or customer deposits to invest in, trade, or hold…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Offer Services to Crypto Firms
The central bank of Pakistan has officially lifted its ban on providing services to cryptocurrency businesses, issuing a notice to all banks and 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 cryptocurrencies. This move follows the recent passage of the 2026 Virtual A…
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 Removes Seven-Year Crypto Ban, Enabling Banks to Cater to Crypto Providers
The State Bank of Pakistan has announced the lifting of a seven-year ban on providing services to cryptocurrency businesses, allowing banks to offer their services to licensed crypto firms. However, the new regulations stipulate that banks are not permitted to use their own funds or customer deposits to invest in, trade, or hold crypto assets. This move comes after the introduction of the Vir…
April 15, 2026, 1:01 p.m.