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Tanzeel Akhtar
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Binance has obtained anti-money laundering (AML) registration from Pakistan’s Virtual Assets Regulatory Authority (PVARA), marking regulatory progress as the crypto exchange moves closer to securing a full Virtual Asset Service Provider (VASP) licence in the country.
The approval places Binance on a phased compliance-driven pathway toward full authorisation in line with Financial Action Task Force standards.
Pakistan’s regulator said the decision is part of its broader strategy to establish a regulated and transparent digital-asset ecosystem built on strong governance, AML, and counter-terrorist financing controls.
Binance Shows Commitment to Pakistan’s Digital-Asset Growth
Richard Teng, CEO of Binance, described the development as a “meaningful milestone” for the exchange’s presence in Pakistan.
“We’ve obtained AML registration from Pakistan VARA, moving us closer to full VASP licensing and deeper local collaboration,” Teng said in a post on X. He adds that Binance looks forward to helping build a “safe, transparent and future-ready digital-asset ecosystem” alongside local stakeholders.
PVARA also confirmed it has issued no-objection certificates to both Binance and HTX as part of a phased regulatory framework designed to onboard global virtual asset platforms in a controlled manner.
What AML Registration Allows Binance to Do Next
Securing AML registration allows Binance to operate within defined regulatory expectations while progressing toward full licensing. A complete VASP licence would permit a broader set of services within Pakistan’s digital-asset market.
Interest in cryptocurrencies has been rising locally, driven by retail adoption, remittances, and growing awareness of blockchain-based financial tools. Regulators have increasingly indicated a move toward engagement rather than prohibition, with PVARA positioning itself as the central authority overseeing virtual asset activity.
Part of a Wider Trend in Emerging Markets
For Binance, this approval adds to a growing list of regulatory engagements worldwide as the exchange works to strengthen its compliance presence across key jurisdictions. The company has emphasised close collaboration with regulators and policymakers as it promotes responsible digital-asset adoption.
Pakistan has opened its doors to international crypto exchanges and virtual asset service providers by inviting them to apply for licenses to operate under its newly formed regulatory authority.
The PVARA, created under the Virtual Assets Ordinance 2025, reportedly issued a call for Expressions of Interest this Saturday from firms already operating in other major jurisdictions. With over 40 million users and an estimated $300 billion in annual trading volume, Pakistan’s virtual asset market shows rapid growth, but until now it has remained largely unregulated.
Binance and TRON Leaders Visit Pakistan
Bilal bin Saqib MBE, Special Assistant to the Prime Minister on Blockchain and Crypto, shared images welcoming Binance founder CZ and TRON founder Justin Sun to Pakistan, reflecting growing engagement between global crypto leaders and local stakeholders as the country advances its digital-asset framework.
Saqib told Cryptonews in an earlier interview that the cost of doing business in the country is much cheaper than elsewhere.
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