Pakistan invites crypto companies to apply for operating licenses under the new federal regulatory framework

According to Cointelegraph, Pakistan recently issued an invitation to international crypto companies to allow exchanges and virtual asset service providers (VASPs) to apply for operating licenses under the new federal regulatory framework. The Pakistan Virtual Assets Regulatory Authority (PVARA) requires that the applicant company must have obtained a license from a recognized regulatory body such as the U.S. Securities and Exchange Commission (SEC), the UK Financial Conduct Authority, the EU VASP framework, the UAE Virtual Assets Regulatory Authority and the Singapore Monetary Authority.