Pakistan invites cryptocurrency companies to apply for operating licenses under the new federal regulatory framework

ChainCatcher news, according to Cointelegraph, Pakistan has recently invited international cryptocurrency companies to allow exchanges and virtual asset service providers (VASPs) to apply for operating licenses under the new federal regulatory framework.

It is reported that the Pakistan Virtual Asset Regulatory Authority (PVARA) requires applicant companies to have obtained licenses from recognized regulatory bodies, such as the U.S. Securities and Exchange Commission (SEC), the UK's Financial Conduct Authority, the EU VASPs framework, the UAE Virtual Assets Regulatory Authority, and the Monetary Authority of Singapore.