Binance Gains Approval for Pakistan Operations

Pakistan Grants Preliminary Approval to Binance and HTX for Crypto Operations

• Pakistan’s Virtual Assets Regulatory Authority (PVARA) issued No Objection Certificates (NOCs) to Binance and HTX, allowing preparatory activities for full licensing.
• The NOCs align with Financial Action Task Force standards and were granted after a multi-agency review of governance, compliance, and risk management systems.
• Key figures like Justin Sun of Tron and Changpeng Zhao of Binance attended the ceremony marking this regulatory milestone.
• The NOCs do not equate to full operating licenses but permit operations under defined oversight while firms prepare VASP license applications.
• This development follows discussions between Prime Minister Shehbaz Sharif and Binance CEO Richard Teng on digital asset regulation in Islamabad.

PVARA’s issuance of NOCs to Binance and HTX marks a significant step toward formal licensing, reflecting Pakistan’s commitment to responsible financial innovation.