Crypto platforms already serving Pakistan must apply to the Pakistan Virtual Assets Regulatory Authority (PVARA) for a no-objection certificate by Sept. 5 or stop covered services. The application provides preliminary clearance to continue operating during review but is not a full license. PVARA opened its licensing portal on Aug. 22 after issuing final virtual-asset service regulations, shifting Pakistan toward formal supervision. The rules cover providers that target Pakistani customers, onboard users there or support Pakistani rupee payment rails, while website accessibility alone is insufficient. Binance and HTX, which received NOCs in December 2025, can apply directly for full licenses, and PVARA has opened a separate sandbox for companies testing new products.