According to Beyond Time News, Prime Minister Shehbaz Sharif has instructed authorities to quickly put in place a strong regulatory system for virtual assets in Pakistan.
He gave these directions during a meeting in Lahore with Bilal Bin Saqib, who also heads the Pakistan Virtual Assets Regulatory Authority.
Focus on Digital Economy and Youth Skills
The prime minister stressed that the framework must match international standards. A clear and reliable system, he said, will help grow the digital economy and improve investor confidence.
He also highlighted the importance of youth training. Special programs in artificial intelligence and digital finance should prepare young people for future job markets.
Progress on Regulatory Framework
During the meeting, Bilal Bin Saqib shared updates on PVARA’s shift into a fully active regulator. He also discussed the launch of a regulatory sandbox to support innovation.
Officials said new ideas are being introduced, including AI-based payment systems and regulated virtual asset services. Work is also underway to prepare institutions and the workforce for upcoming economic changes.
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Legal Backing Through New Law
Earlier, the State Bank of Pakistan supported virtual assets through the Virtual Assets Act 2026.
This law gives PVARA full authority to license, regulate, and supervise all related activities in the country.
Strict Oversight on New Initiatives
Authorities have made it clear that any agreement or pilot project involving virtual assets must receive prior approval.
This requirement aims to ensure transparency and maintain proper control as the sector continues to develop.
