Pakistan has moved a step closer to formally regulating cryptocurrencies after a Senate committee approved a new law aimed at bringing virtual assets under legal oversight. The proposed legislation seeks to protect investors, improve transparency, and create a clear system to monitor digital asset activities across the country.
The Standing Committee on the Cabinet Secretariat of the Senate unanimously approved the Virtual Assets Bill 2025 during its meeting on Wednesday. Until now, cryptocurrencies in Pakistan have largely operated without clear rules or oversight.
The bill proposes setting up a separate regulatory authority to supervise companies dealing in virtual assets. These companies will need licenses and will have to follow strict rules to reduce risks, prevent misuse, and ensure fair and transparent transactions.
The meeting was chaired by Rana Mahmood ul Hassan, who said the approval was an important step for Pakistan’s financial and digital future. Committee members agreed that the lack of regulation had put investors and the financial system at risk.
Federal Minister for Parliamentary Affairs Tariq Fazal Chaudhry presented the bill and explained its scope. He said the law would help Pakistan follow global trends, as many countries are now choosing regulation instead of banning digital currencies.
Cryptocurrencies have become popular in Pakistan in recent years, especially among young people and freelancers. However, repeated concerns over fraud, money laundering, and weak consumer protection have pushed authorities to look for a clear and formal system.
