The Central Bank of Pakistan has allowed banks to open accounts for licensed virtual asset servicers, overturning a 2018 ban.

CoinFeed reported on April 15th, citing Reuters, that the State Bank of Pakistan has allowed banks to open accounts for licensed virtual asset service providers, overturning a 2018 ban. This move, in accordance with the Virtual Assets Act 2026, marks the first time that crypto-related businesses have been brought into the Pakistani banking system, subject to strict anti-money laundering and compliance regulations. The State Bank of Pakistan stated that banks must verify the licenses issued by the Virtual Assets Regulatory Authority of Pakistan before accepting businesses and open segregated, non-interest-bearing customer accounts in rupees. Banks remain responsible for due diligence, risk analysis, and reporting of suspicious transactions, but are prohibited from using their own or customer funds to invest in or hold virtual assets.