Can Binance and HTX operate fully in Pakistan now?

No, they have received initial clearance to register and apply for full licenses, but do not yet have operating licenses.

Why is Pakistan regulating crypto exchanges like Binance?

Pakistan is aiming to align with global anti-money laundering standards and foster responsible innovation in its growing crypto market.

How significant is Pakistan's crypto market?

Pakistan ranks as the world's third-largest market for cryptocurrency by retail activity.

Home / Business and Economy / Pakistan Opens Doors for Binance and HTX

Pakistan Opens Doors for Binance and HTX

12 Dec

•

Summary

Binance and HTX receive initial clearance to register.
Pakistan aims to align with global anti-money laundering standards.
Pakistan ranks as the world's third-largest crypto market.

Pakistan Opens Doors for Binance and HTX

Pakistan is paving the way for major cryptocurrency exchanges, Binance and HTX, to establish a formal presence within the country. The Pakistan Virtual Assets Regulatory Authority (PVARA) has issued No Objection Certificates (NOCs), permitting these platforms to register on the anti-money-laundering system and form local entities.

This strategic initiative aligns with Pakistan's ambition to become a regulated digital asset hub and adhere to international financial standards. PVARA emphasized that only well-governed and compliant platforms will proceed towards full licensing, reflecting a phased approach to regulatory approval.

The development underscores Pakistan's significant position in the global crypto landscape, being the world's third-largest market for retail crypto activity. The nation is actively pursuing a digital finance overhaul, including plans for a central bank digital currency and a comprehensive Virtual Assets Act.