Binance announced today a significant regulatory milestone in Pakistan, following high-level management visits on December 5 where strategic discussions were held with Pakistani government officials. Led by Binance Co-CEO Richard Teng, the meeting symbolizes Binance’s commitment to helping Pakistan establish a regulated and secure digital asset ecosystem.
During the visit, Binance executives engaged with several key policymakers in Pakistan, focusing on regulatory processes, industry transparency, and the progress of the digital asset sector. These discussions reaffirmed Pakistan’s dedication to developing a clear and forward-looking virtual asset regulatory framework.
Binance has obtained AML registration under the framework of the Pakistan Virtual Asset Regulatory Authority (PVARA), marking an important step toward acquiring a full license and completing local registration in Pakistan. Through this phased approach, Binance will be able to offer cross-border services with AML registration while preparing for a full Virtual Asset Service Provider (VASP) license, aligning with Pakistan’s regulatory roadmap.
Binance Co-CEO Richard Teng stated, “We are proud to continue working with the Pakistan Virtual Asset Regulatory Authority to build a robust, transparent, and inclusive virtual asset ecosystem. We are all committed to unlocking the potential of blockchain technology for the benefit of millions of Pakistanis and people beyond the country.”
Bilal Bin Saqib, Chairman of the Pakistan Virtual Asset Regulatory Authority, said, “Our cooperation with Binance continues to deepen as we work together to create a transparent and innovative future for digital assets in Pakistan. Recent meetings highlight the positive regulatory progress Binance has made in AML registration and licensing processes, which are important steps forward for our shared vision.” Binance will continue to support the development of the digital economy in South Asia and looks forward to ongoing collaboration with local regulators and stakeholders to build a healthy, transparent, and inclusive virtual asset ecosystem.
This article, Binance collaborates with Pakistan to promote digital asset growth and regulation development, first appeared on Chain News ABMedia.
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