PVARA Added to Pakistan AMLA Schedule IV

The Pakistan Virtual Assets Regulatory Authority is now listed under Schedule IV of the Anti-Money Laundering Act, giving it direct enforcement powers over crypto firms.

NationPulse Desk

Oct 28, 2026 · 11:58 AM 2 min read

Key takeaways

PVARA was added to Schedule IV of Pakistan's Anti-Money Laundering Act by the National Executive Committee on AML-CFT.

The inclusion gives PVARA direct enforcement powers over crypto exchanges and virtual-asset service providers.

Pakistan's Virtual Assets Act, passed in March 2026, reversed a 2018 crypto ban and empowered PVARA to license exchanges.

Licensed crypto platforms must now meet the same AML standards as banks and report suspicious activity.

Federal Finance Minister Senator Muhammad Aurangzeb chaired the 19th NEC meeting that approved the Schedule IV listing.

The Pakistan Virtual Assets Regulatory Authority (PVARA) has been placed on Schedule IV of the Anti-Money Laundering Act after approval by the National Executive Committee on AML-CFT. The decision gives PVARA direct enforcement powers over crypto exchanges and other virtual-asset service providers in Pakistan.

With the new listing, PVARA joins the roster of reporting entities under Schedule IV. The change means licensed virtual-asset platforms must comply with the same anti-money-laundering standards that banks follow, and PVARA can act against firms that breach those rules.

PVARA is a relatively new regulator; Pakistan's parliament passed the Virtual Assets Act in March 2026, overturning a 2018 cryptocurrency ban and granting PVARA authority to license and supervise exchanges. The Act also introduced a market-surveillance regime for the first time.

Chairman Bilal bin Saqib described the Virtual Assets Act as the country's first dedicated crypto law. He noted that PVARA builds on a 2025 Presidential Ordinance that initially created the regulatory framework and that the regulator has already issued No Objection Certificates to several firms.

The regulator works closely with the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan, sharing oversight of the crypto ecosystem. PVARA handles licensing, while the SBP focuses on banking rails for crypto firms.

Pakistan is among the world's largest cryptocurrency markets by adoption, with millions of users previously operating outside formal structures. PVARA now bears responsibility for regulating this sizable unregulated population.

PVARA also runs a regulatory sandbox allowing firms to test services under supervision before seeking full licences. In January, Pakistan signed a MoU with a World Liberty Financial-linked firm to explore a dollar-backed stablecoin for cross-border payments.

The Schedule IV listing strengthens PVARA's enforcement capabilities. Licensed crypto exchanges must now develop full AML programmes, report suspicious transactions and submit to Financial Monitoring Unit oversight. PVARA can also take direct action against non-compliant firms.

The NEC additionally added Section 28 of the Pakistan Maritime Zones Act, 2023 to Schedule I of the AMLA. Federal Finance Minister Senator Muhammad Aurangzeb chaired the 19th NEC meeting at the Finance Division.

Questions and answers

When was PVARA added to Schedule IV of the AMLA?

The National Executive Committee on AML-CFT approved the addition of PVARA to Schedule IV during its 19th meeting chaired by Senator Muhammad Aurangzeb.

What new powers does PVARA have under the AMLA listing?

PVARA can now enforce AML compliance, require suspicious transaction reporting, and take direct action against crypto firms that fail to meet obligations.