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The Pakistan Virtual Asset Regulatory Authority issues a regulatory announcement, requiring virtual asset service providers to obtain authorization in advance.
Golden Finance reports that on April 27th, according to an official announcement from the Pakistan Virtual Asset Regulatory Authority (PVARA), all virtual asset services are now under the scope of PVARA regulation and must obtain prior authorization before conducting business or making public announcements.
PVARA states that it welcomes responsible innovation and encourages relevant participants to engage early in communication, and can carry out innovative activities through compliant channels such as regulatory sandboxes, No-Action Relief Letters, and No Objection Certificates (NOCs).