The Pakistan Virtual Assets Regulatory Authority (PVARA) resolved on Thursday to intensify efforts to regulate the digital assets market and develop it as an engine of the national economy.
A key meeting took place between PVARA Chairman Bilal Bin Saqib and stakeholders from the digital assets industry. The PVARA chairman highlighted the rapidly changing regulatory landscape of Pakistan’s digital assets sector.
Saqib reaffirmed the resolve to step up efforts aimed at regulating the digital assets market to support economic growth. He said a consultative group would prepare a legal framework for digital currency and virtual assets.
The PVARA chairman said that the digital assets sector would be brought out of the grey market and made part of the documented economy. Saqib said full facilities would be provided to investors in the digital economy.
He added that within just nine months PVARA had been made an active and independent regulatory body. The PVARA chairman said that under the Pakistan Virtual Assets Regulatory Authority Act, PVARA is the sole body responsible for licensing and oversight.
Technology experts expressed confidence in Bilal Bin Saqib and described PVARA as a key pillar of the national economy.
