Pakistan grants Binance and HTX preliminary approval for crypto operations

Pakistan’s Virtual Assets Regulatory Authority (PVARA) has granted No Objection Certificates (NOCs) to cryptocurrency exchanges Binance and HTX, marking a crucial step toward full licensing compliant with Financial Action Task Force standards. This preliminary approval follows a multi-agency review of the exchanges' governance and compliance systems. The NOCs permit Binance and HTX to register with the Financial Monitoring Unit’s goAML anti-money laundering platform and begin local incorporation processes while preparing for formal Virtual Asset Service Provider (VASP) license applications. Finance Minister Muhammad Aurangzeb stated this framework supports responsible innovation while addressing illicit finance risks. The development occurred shortly after Prime Minister Shehbaz Sharif met with Binance CEO Richard Teng.

(Source：Crypto Briefing)