National Assembly passes virtual assets bill to regulate digital currency

The National Assembly on Tuesday approved the Virtual Assets Bill, 2026, paving the way for the creation of a regulatory framework for digital currencies and related services in Pakistan.

The legislation was passed after the House suspended the scheduled Private Members’ Day business. The bill had earlier been approved by the Senate on February 27, 2026, and will now be sent to the President for assent before becoming law.

Federal Minister for Parliamentary Affairs Tariq Fazal Chaudhry presented the bill in the House, where it was adopted through a majority vote.

The proposed law provides for the establishment of the Pakistan Virtual Assets Regulatory Authority, which will oversee the licensing, regulation and supervision of virtual assets and virtual asset service providers operating in the country.

According to the bill, the authority will be responsible for developing policies, issuing regulations and supervising activities related to digital assets. The legislation aims to introduce a legal framework to regulate virtual asset markets while aligning with international standards on financial oversight.

The authority will consist of several members, including the secretary of the Ministry of Finance, the secretary of the Ministry of Law and Justice, the governor of the State Bank of Pakistan, the chairperson of the Securities and Exchange Commission of Pakistan, the chairman of the National AML-CFT Authority, and the chairperson of the Pakistan Digital Authority. Two independent directors with expertise in virtual asset markets, digital technology and digital finance will also be appointed by the federal government.

The law states that the authority will determine its policy direction, approve its budget and formulate regulations governing the sector.

According to the statement of objects and reasons attached to the bill, the framework is intended to support safe trading in digital assets, prevent illegal activities such as money laundering and fraud, and promote innovation and financial inclusion.

The bill also aims to ensure compliance with international standards related to anti-money laundering and countering terrorist financing, while enabling the development of Shariah-compliant virtual asset services in Pakistan.