Pakistan Lifts Ban on Cryptocurrency Companies, SBP Issues Notification

Islamabad: The State Bank of Pakistan has officially lifted the ban on cryptocurrency and virtual asset service providers in the country, issuing a notification that grants legal recognition to such entities.
According to reports, the decision allows companies dealing in crypto assets to operate under a regulated framework, marking a significant shift in Pakistan’s financial policy.
Following the move, banks will now be permitted to open accounts for licensed cryptocurrency companies, subject to compliance with regulatory requirements.
The lifting of the ban is expected to pave the way for legal crypto and digital currency trading in Pakistan, while also encouraging overseas Pakistanis—particularly those in markets like Dubai—to bring their crypto assets back into the country.
Officials believe the development will help integrate digital assets into the formal financial system and enhance transparency through proper regulation.