Govt sets up digital assets authority as per FATF requirement

ISLAMABAD: The government on Wednesday announced establishing a Pakistan Digital Assets Authority (PDAA) to regulate and accelerate the Virtual Asset Economy comp­liant with the Fina­ncial Action Task Force (FATF) safeguards.

In a statement, the Ministry of Finance said it was initiating a comprehensive strategy to regulate digital assets and accelerate the growth of Pakistan’s virtual asset economy. On the recommendations of the Pak­istan Cryptocurrency Cou­ncil (PCC), a dedicated body, ‘Pakistan Digital Assets Authority’, would regulate blockchain-based financial infrastructure to ensure the FATF-comp­liant innovation, economic inclusion, and responsible adoption of digital assets, it said.

“Pakistan must regulate not just to catch up — but to lead. With the PDAA, we are creating a future-ready framework that protects consumers, invites global investment, and puts Pakistan at the forefront of financial innovation,” said Finance Minister and PCC Chairman Muhammad Aurangzeb.

He said PDAA would serve as a specialised regulatory body with a clear mandate to oversee licensing, compliance, and innovation within the digital asset ecosystem. It will regulate exchanges, custodians, wallets, tokenised platforms, stablecoins, and DeFi applications — all under a single, agile framework.