Pakistan issues NOC to Binance and HTX for initial crypto activities

The Pakistan Virtual Assets Regulatory Authority (PVARA) has issued a No Objection Certificate (NOC) to Binance and HTX. According to a statement from the Pakistan Crypto Council, the NOC was granted after joint consultations and a formal review process.

The statement said that both companies are now allowed to start basic preparations and consultation activities in Pakistan. However, this NOC is not a full operating license.

Finance Minister Muhammad Aurangzeb said that the launch of the NOC framework shows Pakistan’s commitment to financial discipline and responsible innovation.

He added that PVARA is becoming the world’s first AI-powered virtual assets regulator. The authority has introduced an evaluation system, a recruitment portal, and AI-assisted tools to strengthen monitoring.

He also mentioned that PVARA will continue discussions with local and international stakeholders as it moves forward with the next stages of the regulatory framework.

Bilal bin Saqib, Chairman of PVARA, said that issuing the NOC is the first step toward a fully licensed and regulated environment.

He noted that the focus will be on consumer protection, financial transparency, and responsible innovation. Every company working in Pakistan’s digital market will be required to meet high standards of transparency, governance, and risk management.

Pakistan is currently ranked third in the world for crypto adoption, with an estimated 30 to 40 million users. The country’s annual digital asset trading volume is believed to be over 300 billion dollars.

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