Pakistan’s Preliminary Approval Opens Door for Binance and HTX Crypto Exchanges

Pakistan’s preliminary approval for Binance and HTX marks a significant regulatory move toward formalizing the country’s cryptocurrency market, as the Virtual Assets Regulatory Authority granted both exchanges no-objection certificates to begin registration and licensing preparations.

Under this Pakistan’s preliminary approval, the platforms are allowed to enroll in anti-money laundering systems, establish regulated local subsidiaries, and prepare full license applications once the final regulatory framework is issued.

Authorities stressed that these certificates do not constitute full operational licenses.

PVARA Chairman Bilal Bin Saqib described Pakistan’s preliminary approval as the start of a new chapter, emphasizing that only exchanges with strong governance, compliance, and risk controls will advance through the phased licensing process aligned with global AML and counter-terrorism financing standards.

Finance Minister Muhammad Aurangzeb noted that the structured NOC framework highlights Pakistan’s commitment to responsible innovation and financial discipline, while safeguarding market stability and investor protection.

The move comes as several jurisdictions, including the UAE, Japan, and parts of the European Union, continue to expand formal licensing regimes for crypto exchanges amid a broader global regulatory tightening.