Pakistan clears Binance and HTX to seek local crypto licenses

Pakistan's Virtual Assets Regulatory Authority (PVARA) has issued No Objection Certificates (NOCs) to major global cryptocurrency exchanges Binance and HTX, allowing them to register locally and seek full operating licenses. This move aligns with Pakistan's phased approach to regulating crypto asset service providers, emphasizing strong governance and compliance with Anti-Money Laundering (AML) policies set by the Financial Action Task Force (FATF). Following the NOCs, Binance and HTX can engage with the Securities and Exchange Commission of Pakistan (SECP) to establish local subsidiaries and prepare final license applications. The development followed meetings between Pakistan's Finance Minister Muhammad Aurangzeb and executives from the exchanges, including Binance CEO Richard Teng and HTX advisor Justin Sun. PVARA Chairman Bilal bin Saqib emphasized that digital assets are viewed as essential infrastructure for Pakistan's future financial system.

(Source：Cointelegraph)