3 min read
In a decisive step toward safeguarding investors in Pakistan’s rapidly expanding digital-asset market, the Pakistan Virtual Assets Regulatory Authority (PVARA) has announced the launch of a dedicated Grievance Cell to handle complaints related to cryptocurrency scams, misleading advertisements, and user grievances involving virtual-asset service providers.
The new unit marks the country’s first structured mechanism for citizens to report crypto-related frauds, deceptive marketing, and unfair treatment during investigations, signaling Pakistan’s intent to build stronger regulatory oversight in an increasingly volatile digital finance landscape.
A New Oversight Mechanism
According to officials, the Grievance Cell will serve as a centralized complaint hub, accessible through pvara.gov.pk/grievance-cell and via [email protected]. Although formally announced, the portal remains in a testing phase and is expected to go live after final security and procedural reviews. Once operational, users will be able to lodge verified complaints which will then be routed to specialized investigation teams.
Why PVARA Grievance Cell Is Important
The move comes in the wake of a growing number of crypto scams and unauthorized investment schemes that have defrauded Pakistani users of millions of rupees. In Gujranwala, the National Cyber Crime Investigation Agency (NCCIA) recently exposed a fraudulent crypto investment network that scammed a local resident out of Rs 1.28 million, using fake WhatsApp contacts posing as representatives of an international trading firm.
In parallel, authorities dismantled 54 illegal call centers and arrested over 250 suspects linked to crypto-based Ponzi and phishing operations that proliferated across Telegram and social media. Many of these networks operated through fake exchanges promising daily returns and used sophisticated referral structures to lure victims.
The Global Context
Pakistan’s effort mirrors global trends in crypto regulation. India’s Financial Intelligence Unit (FIU) has begun enforcing strict reporting standards on exchanges, while the UK’s Financial Conduct Authority (FCA) recently imposed new rules requiring explicit warnings on crypto ads. Similarly, the U.S. SEC continues to tighten its oversight of digital-asset marketing practices and exchange compliance.
For Pakistan, these steps are particularly crucial as the country aims to align its financial systems with FATF compliance frameworks and attract legitimate blockchain investment without enabling misuse. With the rise of over 10 million crypto users according to Chainalysis’ 2024 report, placing Pakistan among the world’s top ten in adoption, experts warn that unregulated activity poses systemic and consumer-level risks.
What’s Next for Crypto in Pakistan?
Authorities plan to accompany the rollout with a nationwide awareness campaign educating users on identifying crypto scams, verifying exchange registrations, and understanding the difference between regulated and unauthorized entities. PVARA also intends to publish quarterly transparency reports detailing complaint volumes and enforcement outcomes.
As the country enters a new phase of digital-finance evolution, the success of the Grievance Cell could determine how Pakistan’s crypto landscape matures into a secure, credible ecosystem.
