The Pakistan Virtual Asset Regulatory Authority (PVARA) issued a formal call for international exchanges and digital asset firms to submit their interest in entering the local market.

Applicants must already hold licenses from recognized regulatory authorities in other countries. These include the US Securities and Exchange Commission (SEC), the UK’s Financial Conduct Authority (FCA), the European Union’s VASP regime, the United Arab Emirates’ Virtual Assets Regulatory Authority, and Singapore’s Monetary Authority.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

What is a Crypto Mining Pool? Is it Worth it? (Beginner-Friendly)

PVARA has requested that companies provide detailed information about their background and operations. This includes their existing licenses, the countries in which they operate, the services they offer, their technology infrastructure, and the measures they take to ensure security.

They must also explain how they plan to tailor their business to meet Pakistan’s market and regulatory requirements.

The new licensing system aims to help reduce unlawful financial activities and to support the growth of financial technology and innovation. It may also allow for testing of products that comply with Islamic finance principles through regulatory pilot programs.

The authority responsible for overseeing this initiative, PVARA, was established under the Virtual Assets Ordinance 2025. Its job is to approve, monitor, and manage crypto-related service providers while following international regulatory standards.

Meanwhile, Alexander Lukashenko, the President of Belarus, recently told the country’s banking leaders to expand their use of cryptocurrencies and modern financial tools. Why? Read the full story.

During his speech at the Bitcoin 2025 conference in Las Vegas on May 29, Nigel Farage said that the payments will be handled by Radom, a crypto payment platform, which confirmed the partnership in a blog post.

Farage pointed out that millions in the country hold digital assets, and that one in four people under 30 own some form of crypto. He suggested that offering crypto donations was part of Reform UK’s effort to connect with this group and modernise its campaign.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

What is a Cryptocurrency: For Beginners (Animated Explainer)

While on stage, Farage also spoke about his past experience being “debanked” in 2023, when he had trouble keeping a personal bank account. He used that story to argue that traditional finance is flawed and that people are turning to crypto as an alternative.

If his party wins power in the next general election, expected before August 2029, he said they would introduce a new law focused on crypto and digital finance.

Farage also proposed building a Bitcoin reserve at the Bank of England and said he would strongly oppose any plan to create a central bank digital currency (CBDC) in the UK. He argued that a CBDC could be used to track people’s spending and would harm privacy.

Panama City’s mayor, Mayer Mizrachi, also shared ideas for using Bitcoin during his speech at the Bitcoin 2025 conference. What did he propose? Read the full story.

Speaking on the Crypto in America podcast on May 13, McHenry shared details about his earlier conversations with the former SEC chair.

When asked directly if Gensler seemed anti-crypto in private meetings, McHenry replied, “No… Nope”.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

What is Web3? (Animated Explanation + Examples)

He went on to explain that in one-on-one conversations, Gensler often recognized the value of blockchain and digital assets. McHenry said Gensler’s time at MIT gave him a solid understanding of the industry, and that he had once viewed digital assets as a promising development in finance.

Gerald Gallagher, general counsel at Sei Labs, added that Gensler’s academic work included contributions to the idea of the “airdrop”, a method for distributing crypto tokens.

Still, McHenry said he was surprised by how Gensler changed once he became SEC chair. He admitted he had wrongly assumed that Gensler would take a more balanced approach.

McHenry described conversations with Gensler during his time at the SEC as confusing. He said discussions would often begin with agreement, only for Gensler to walk back his earlier points later in the same meeting. McHenry noted that this made it difficult to reach clear decisions on crypto regulation.

In McHenry’s view, Gensler’s actions were shaped by “Senate politics and confirmation politics”, rather than his own understanding of the technology.

Meanwhile, SEC Chair Paul Atkins recently discussed how blockchain technology could create new methods for managing investments. What did he say? Read the full story.