The Senate Standing Committee on Finance and Revenue, chaired by Senator Saleem Mandviwalla, held a meeting to review the Virtual Assets Ordinance Bill 2025 in Pakistan.
As the officials told the committee, the purpose of the Virtual Assets Bill 2025 is to bring a financial framework that regulates digital and virtual assets in Pakistan. The bill suggests a regulatory body that will license and supervise the activities of virtual asset service providers in Pakistan, and will protect investors, maintain financial transparency, and deter unlawful practices.
The committee proposed several amendments in the bill which centered towards the establishment of the governing board of the proposed authority. One of the representatives of the Ministry of Law and Justice informed the members about the specifics of the legislation and explained the role that the regulatory body of the virtual asset services plays in Pakistan.
Members have emphasized that the Virtual Assets Ordinance Pakistan 2025 will enhance the battle against money laundering, terrorist funding, and other illegal finance practices. They also highlighted that the appropriate regulation of virtual asset service providers in Pakistan will contribute to economic development as well as the creation of a safe digital finance environment.
The Senate Standing Committee will still be reviewing the amendments proposed on the bill in order to complete the bill to implement it. The Virtual Assets Ordinance Bill 2025 Pakistan will most likely establish the basis upon a contemporary digital finance system throughout the nation.
