Pakistan: SBP Opens Bank Accounts for Crypto Firms

Pakistan just moved crypto businesses out of regulatory limbo as the State Bank of Pakistan now lets licensed virtual asset service providers open formal bank accounts following the Virtual Assets Act 2026. The change replaces the 2018 ban and channels activity into licensing, AML checks and banking rails while Raast instant transfers, mobile wallets, remittances from Saudi Arabia and the UAE plus stablecoin and crypto exchange usage already form daily life across Pakistan and MENA. Bitcoin and digital payments now drive freelancing income and small-business receipts faster than legacy systems allow, forcing regulators to build frameworks around existing behavior rather than wait for trends to fade.