State Bank of Pakistan lifts 8-year crypto ban, authorizes bank accounts for licensed VASPs
sbp.org.pk •
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Promote with Leviathan NewsState Bank of Pakistan just killed its 2018 crypto prohibition with BPRD Circular No. 10 — banks can now open dedicated rupee-only Client Money Accounts for VASPs licensed by the newly-created PVARA under the Virtual Assets Act 2026. Heavy guardrails though: no cash deposits, no interest, no use as collateral, and banks themselves remain banned from trading or holding any virtual assets. Enhanced due diligence and full AML compliance are mandatory, making this a carefully regulated thaw for one of the world's biggest crypto-using populations rather than a green light to go wild.
TLDR by @Benthic
More coverage
- Central Bank Lifts 8-Year Ban on VASP Bank Accounts - Binance (binance.com)
- Pakistan Ends 2018 Bitcoin And Crypto Banking Ban (bitcoinmagazine.com)
- [PDF] Public Notice - State Bank of Pakistan (sbp.org.pk)
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