This is a press release, written and provided by Binance, and does not represent the views of the platform.
Binance announced on December 12th that it had made significant progress in obtaining regulatory approval in Pakistan, following a strategic meeting between Binance's senior management and Pakistani government officials during a visit on December 5th . The meeting, led by Binance Co-CEO Richard Teng , symbolizes Binance's commitment to helping Pakistan build a regulated and secure digital asset ecosystem.
During the visit, Binance's senior management met with several key policymakers in Pakistan, focusing on regulatory processes, industry transparency, and the progress of the digital asset industry. These talks reaffirmed Pakistan's commitment to developing a clear and forward-looking regulatory framework for virtual assets.
Binance has obtained anti-money laundering ( AML ) registration in accordance with the framework of the Pakistan Virtual Asset Regulatory Authority ( PVARA ), marking an important step toward obtaining 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 to obtain a full Virtual Asset Service Provider ( VASP ) license, aligning with Pakistan's regulatory roadmap.
Binance Co-CEO Deng Weizheng stated:
"We are proud to continue our partnership with the Virtual Asset Regulatory Authority of Pakistan to build a sound, transparent, and inclusive virtual asset ecosystem. We are both committed to unlocking the potential of blockchain technology to benefit millions of people in Pakistan and beyond."
Bilal Bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority, stated:
"Our partnership with Binance continues to deepen as we work together to create a transparent and innovative future for digital assets in Pakistan. This recent meeting highlights the positive regulatory progress Binance has made in its anti-money laundering registration and licensing process, a significant step forward in advancing our shared vision."
Binance remains committed to supporting the development of the digital economy in South Asia and looks forward to continuing to work with local regulators and stakeholders to build a sound, transparent and inclusive virtual asset ecosystem.
