Pakistan has moved closer to regulating digital and virtual assets after a Senate committee unanimously approved the Virtual Assets Bill 2025, marking a major step toward formal oversight of the rapidly growing digital finance sector.

The bill aims to incorporate virtual assets into Pakistan’s financial regulatory framework by introducing clear rules for transparency, investor protection, and market supervision. It also proposes the creation of a dedicated regulatory authority to oversee Virtual Asset Service Providers (VASPs), enforce compliance requirements, and curb financial and operational risks linked to digital asset activities.

The approval came during a meeting of the Standing Committee on the Cabinet Secretariat of the Senate of Pakistan, chaired by Rana Mahmood ul Hassan. Committee members described the legislation as a key development for Pakistan’s digital economy and an important step toward aligning local regulations with global practices.

Federal Minister for Parliamentary Affairs Tariq Fazal Chaudhry presented the bill, explaining that it would establish licensing and monitoring mechanisms for virtual asset markets while strengthening regulatory controls.