Pakistan Approves Binance and HTX to Begin Crypto Exchange Licensing Process – Latest 12 December 2025 Update

Pakistan Allows Binance and HTX to Begin Preparing for Crypto Exchange Licensing Process

Pakistan has taken a major step toward regulating its digital finance sector by allowing two of the world’s largest cryptocurrency exchanges, Binance and HTX, to begin the initial process of applying for official crypto exchange licenses. On 12 December 2025, the Pakistan Virtual Assets Regulatory Authority (PVARA) issued No Objection Certificates (NOCs) to both platforms, marking a significant milestone for the country’s virtual asset ecosystem.

This NOC is not an operational license but an early regulatory approval, allowing both exchanges to begin preparing their compliance structures, submit documentation, and initiate all required legal frameworks. The exchanges will now work on fulfilling Pakistan’s strict AML (Anti-Money Laundering), CFT (Counter-Terrorist Financing), and governance requirements before formally applying for full licensing.

PVARA Chairman Bilal Bin Saqib stated that the NOC represents “a new chapter for Pakistan’s digital asset market,” emphasizing that only platforms meeting international regulatory standards will progress to the next stage. Pakistan’s Finance Minister Senator Muhammad Aurangzeb also welcomed the move, describing it as an indicator of Pakistan’s commitment to responsible modernization and financial transparency.

Pakistan continues to rank among the fastest-growing countries in retail crypto adoption. Previous global reports have listed Pakistan among the top three nations in cryptocurrency usage. With millions of active users, the need for a regulated environment has become crucial. Prior to this, a large portion of crypto trading was taking place without oversight. Through the new licensing framework, Pakistan aims to create a transparent, secure, and well-regulated digital finance environment.

Binance has already been expanding its partnerships within Pakistan’s financial ecosystem, while HTX is preparing to register with the Financial Monitoring Unit (FMU) and develop complete AML systems. Both exchanges will later apply for a full VASP (Virtual Asset Service Provider) license once they meet all regulatory criteria.

This decision positions Pakistan for a more structured digital economy, creating opportunities for investment, innovation, and employment. The move is expected to encourage global fintech players to enter Pakistan’s growing digital asset market. For millions of Pakistani crypto users, this development promises safer and legally compliant access to trading and digital investment products.

Pakistan’s latest step reflects the government’s broader vision of integrating advanced financial technologies into a regulated framework. With Binance and HTX now preparing for licensure, Pakistan is entering a new era of regulated crypto adoption, shaping the future of the country’s digital finance landscape.