ECC approves Rs800m grant for Virtual Asset Regulator PVARA

September 25, 2025 (MLN): The Economic Coordination Committee (ECC) has approved a Rs800 million Technical Supplementary Grant for the Pakistan Virtual Asset Regulatory Authority (PVARA).

This marked a significant step in the country’s efforts to regulate the fast-growing digital asset and cryptocurrency space.

The decision came during an ECC meeting chaired virtually by Finance Minister Muhammad Aurangzeb from New York, the Finance Division said in a statement.

The grant is expected to provide PVARA with the resources needed to strengthen its institutional capacity, develop a regulatory framework for virtual assets, and align Pakistan with international compliance standards, including those recommended by the Financial Action Task Force (FATF).

PVARA, established to oversee the licensing and regulation of digital asset service providers, is tasked with ensuring investor protection.

This would also mitigate the risks of money laundering and terror financing, and foster innovation in the virtual asset sector.

The ECC’s approval displays the government’s growing recognition of virtual assets as part of the formal financial system, even as global regulators tighten scrutiny of crypto markets.

The meeting was also attended by Federal Ministers Ali Pervaiz Malik, Rana Tanveer Hussain, and Sardar Awais Ahmad Khan Leghari, along with senior officials from relevant ministries and regulatory bodies.

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