Pakistan regulator says 40 million hold crypto, sets registration deadline
Pakistan's virtual asset regulator told a senate committee that about 40 million Pakistanis hold crypto accounts and that the country has become the world's third-largest crypto market driven by young users. The authority estimated the virtual asset market at about $250 billion and said $10–20 billion remains invested domestically, while issuing no-objection certificates to two international companies and setting a registration deadline of September 5 with possible restrictions for noncompliance. Officials said formal regulation could cut fraud, lower remittance costs (potentially adding about $2 billion), and shape tax policy as Pakistan works to bring investors into the regulated system.
Pakistan requires crypto firms to register by September 5.
Context
The regulator briefed the senate after five months building a regulatory framework. It has issued no-objection certificates and set a September 5 registration deadline. Officials will next decide tax rates and enforcement steps.
The full analysis
19 dimensions on this story — world impact, market read, and what happens next.
- Full ContextLocked
- Affected SectorsLocked
- Stock ImpactLocked
- Economic IndicatorLocked
- Investor RelevanceLocked
- Professional RelevanceLocked
- Watch PointsLocked
- Probability of ChangeLocked
- Debate PointsLocked
- Historical ParallelLocked
- Prerequisite KnowledgeLocked
- Follow-up QuestionsLocked
- Pros & ConsLocked