Pakistan Sets Sights on Unlocking Crypto with Rigorous Licensing Approach

Pakistan Opens Doors to International Crypto Companies for Licensing

Pakistan has launched a fresh regulatory program inviting global cryptocurrency companies to

country to apply for operational licenses. This step is a key element of Pakistan’s plan to establish itself as a center for blockchain technology and digital finance in South Asia. Prime Minister Shehbaz Sharif’s administration has stressed the need for comprehensive oversight of the crypto sector to maintain market stability, ensure transparency, and comply with worldwide regulations. The State Bank of Pakistan (SBP), the nation’s central bank, will oversee the application process, assessing applicants for their technological expertise, financial resilience, and conformity to anti-money laundering (AML) and counter-terrorism financing (CTF) measures. While detailed criteria and the total number of licenses have not yet been specified, the SBP has made it clear that only a limited number of companies meeting rigorous standards will receive approval.

This initiative signals rising interest in blockchain and digital assets throughout South Asia, with countries such as India and Bangladesh pursuing similar regulatory paths. The effort also supports Pakistan’s broader reforms aimed at boosting foreign investment and advancing innovation in strategic sectors. The government has previously worked with global tech and

to establish a comprehensive legal system for blockchain and cryptocurrency startups. Additionally, the SBP is developing its own digital currency, which is anticipated to support the licensing framework and offer a secure platform for electronic transactions.

Experts believe Pakistan’s regulatory model could influence other developing markets in the area that wish to encourage innovation while safeguarding financial stability. Despite a rapidly expanding and tech-literate population, Pakistan continues to confront issues such as digital security, financial crimes, and infrastructure limitations. The introduction of licensing is designed to address these problems by imposing strict compliance and operational standards. The SBP has also expressed its willingness to work together with international regulatory bodies to keep Pakistan’s cryptocurrency industry in line with global practices.

The call for international participation underscores Pakistan’s goal to play a significant role in the digital economy. The government has shown interest in applying blockchain solutions for public sectors including land records, supply chain oversight, and international payments. In recent years, the country has improved its digital payment networks, with the SBP rolling out a nationwide payment system and promoting mobile banking to enhance access to financial services. The new licensing framework for crypto is expected to further these advancements and lay the groundwork for a dynamic blockchain environment.

Though the initiative is in its infancy, it has already drawn notable attention from global investors and technology companies. The SBP has yet to announce when licenses will be granted or the associated costs, but has pledged that the regulatory guidelines will be open and aligned with international norms. The administration also plans to support licensed entities through tax breaks, infrastructure upgrades, and facilitating access to skilled tech professionals.

The regulation and licensing of cryptocurrency businesses marks a pivotal moment in Pakistan’s push for digital transformation. By establishing a structured regulatory setting, the government hopes to draw foreign funds, drive tech innovation, and make the country a leader in the region’s blockchain and digital finance landscape. The success of this project will rely on the SBP’s capacity to uphold compliance, manage security threats, and strike a balance between oversight and market adaptability.