Pakistan has expanded its anti-money laundering framework to include the Pakistan Virtual Assets Regulatory Authority (PVARA), bringing the crypto regulator within the scope of the Anti-Money Laundering Act (AMLA).
The decision was approved by the National Executive Committee on Anti-Money Laundering and Countering the Financing of Terrorism (AML-CFT) during its 19th meeting, chaired by Finance Minister Muhammad Aurangzeb at the Finance Division.
Under the approved changes, PVARA will be added to Schedule IV of the AMLA, while Section 28 of the Pakistan Maritime Zones Act, 2023, will be included in Schedule I.
The move brings the crypto regulator into Pakistan’s formal legal framework for addressing money laundering and terrorist financing. It could strengthen oversight of financial risks linked to virtual assets, although the decision does not automatically mean authorities can block all crypto transactions connected to such activities.
The committee also reviewed progress on decisions taken at its previous meeting and assessed the implementation of Pakistan’s broader AML-CFT framework.
Participants stressed the need to adapt the system to emerging financial risks and new technologies, while improving the analytical capabilities of relevant institutions.
Aurangzeb called for stronger analytical and operational capacity at the Financial Monitoring Unit (FMU), supported by a clear implementation roadmap and defined timelines.
He said the committee provides a platform for coordination among government institutions, monitoring progress, and ensuring that agreed measures are implemented effectively.
