ISLAMABAD: Pakistan’s Chief of Army Staff General Qamar Javed Bajwa has been awarded the Order of the Military Merit by Jordan’s King Abdullah II Ibn Al Hussain. The medal is “in recognition of his services, and improving defense and security relations between the two brotherly countries,” acording to the Pakistan Armed Forces.
General Bajwa met the king after arriving in Jordan on October 2 for a three-day official visit. They discussed the regional security situation and bilateral relations, and the king expressed an interest in enhanced cooperation between the two countries in a number of fields, including security, defense production, education and investment opportunities.
“Pakistan has the highest regard for Jordan and would welcome any positive initiatives,” said Gen. Bajwa.
Pakistan’s army chief awarded top military honor in Jordan
Pakistan’s army chief awarded top military honor in Jordan
- General Qamar Javed Bajwa is beginning a three-day official visit to Jordan
- King and general discussed regional security and enhanced cooperation in a number of areas, including education and defense production
Pakistan clears global crypto exchanges Binance, HTX under new regulatory framework
- NOCs allow Binance, HTX to conduct engagement activities within Pakistan, says regulator PVARA
- Says move allows entities to open subsidiaries in Pakistan but doesn’t constitute as operating license
ISLAMABAD: The Pakistan Virtual Assets Regulatory Authority (PVARA) announced on Friday that it has granted no objection certificates (NOCs) to global crypto exchanges Binance and HTX, the latest in a series of moves by Islamabad to regulate its fast-growing virtual assets market.
PVARA said the NOCs were granted following a review process it conducted with public sector stakeholders which focused on governance structures, compliance frameworks, risk management controls and alignment with Pakistan’s emerging regulatory requirements for virtual asset activities.
Pakistan has been moving to regulate its fast-growing crypto and digital assets market by bringing virtual asset service providers (VASPs) under a formal licensing regime. Officials say the push is aimed at curbing illicit transactions, improving oversight and encouraging innovation in blockchain-based financial services.
“The introduction of this structured NOC framework demonstrates Pakistan’s commitment to responsible innovation and financial discipline,” Finance Minister Muhammad Aurangzeb was quoted as saying in a press release issued by PVARA.
The regulatory authority said the NOCs allow Binance and HTX to conduct preparatory and engagement activities within Pakistan under “defined regulatory oversight,” clarifying that it does not constitute a “full operating license.”
The NOCs allow Binance and HTX to begin registration on the FMU goAML, Pakistan’s anti–money laundering reporting platform, as reporting entries. It also allows them to engage with the Securities and Exchange Commission of Pakistan (SECP) regulator to incorporate their subsidiaries in the country.
HTX and Binance can also prepare and submit their full VASP license applications once licensing regulations are promulgated and provide anti-money laundering (AML) registered services after the completion of their goAML registration.
“PVARA will continue to engage with domestic and international stakeholders as it advances subsequent phases of its regulatory framework,” the authority said.
“Additional guidance regarding licensing standards, compliance obligations and supervisory expectations for virtual asset service providers will be issued in due course.”
Chairman PVARA Bilal Bin Saqib said issuing the NOCs marks the first step toward a fully licensed and regulated environment for digital assets in Pakistan.
“By adopting a phased and internationally aligned approach, Pakistan is ensuring that only well-governed, fully compliant global platforms progress toward full licensing,” Saqib was quoted as saying by PVARA.
According to PVARA, Pakistan already ranks at number three in crypto adoption and is home to an estimated 30 to 40 million users.
It said industry-wide assessments estimate that annual digital asset trading activity linked to Pakistan exceeds $300 billion.
The development takes place days after Prime Minister Shehbaz Sharif met a delegation of Binance in Islamabad, led by its CEO Richard Teng, to discuss regulating digital assets in Pakistan.
