The government has made the Pakistan Virtual Assets Regulatory Authority (PVARA) operational, with officials from the Federal Board of Revenue (FBR) set to join its ranks to support oversight functions, including market surveillance, risk management, and anti-money laundering (AML) compliance.
According to an FBR notification issued on Thursday, the first meeting of the PVARA Board decided that additional staff would be temporarily assigned to help the authority begin operations smoothly.
The notification noted that the absence of assigned officers so far has hampered PVARA’s functionality and caused delays in executing its mandate. The authority, it added, carries vital responsibilities for regulating Pakistan’s emerging virtual assets sector, boosting investor confidence, and improving the country’s international standing.
To bridge this gap, the FBR confirmed that its officials will be deputed to PVARA, enabling the authority to move forward with its regulatory and compliance framework.
