Pakistan has granted preliminary clearances to major global cryptocurrency exchanges, including Binance and HTX, to establish operations in the country. The Pakistan Virtual Assets Regulatory Authority (PVARA) issued no objection certificates (NOCs) to these platforms to ensure compliance with AML policies set by the FATF.

After receiving the NOCs, Binance and HTX are authorized to engage with Pakistan’s Securities and Exchange Commission (SECP) and prepare full license applications. Pakistan’s Finance Minister Muhammad Aurangzeb praised the move as a commitment to responsible innovation and financial discipline.

Binance CEO Richard Teng expressed excitement over the NOC framework, stating that it brings the exchange closer to full licensing and local collaboration. PVARA’s progress was supported by the Pakistan Crypto Council (PCC), which counts CZ as one of its advisers.

PVARA Chairman Saqib emphasized the importance of Bitcoin and blockchain as foundational elements for Pakistan’s future financial infrastructure. He highlighted the significance of these technologies as more than speculative assets, but as essential components of a new financial system.

Read more at Cointelegraph: Pakistan Advances Crypto Licensing For Binance And HTX