{"id":7751,"date":"2025-07-10T17:45:56","date_gmt":"2025-07-10T12:45:56","guid":{"rendered":"https:\/\/pakjazbo.com\/?p=7751"},"modified":"2025-07-10T17:45:58","modified_gmt":"2025-07-10T12:45:58","slug":"president-issues-virtual-assets-regulatory-authority-ordinance","status":"publish","type":"post","link":"https:\/\/pakjazbo.com\/?p=7751","title":{"rendered":"President Issues Virtual Assets Regulatory Authority Ordinance"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Islamabad:<\/strong> President Asif Zardari has issued the <strong>Virtual Assets Regulatory Authority Ordinance 2025<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The ordinance applies nationwide and comes into immediate effect. The Authority will function as a <strong>corporate entity<\/strong> with powers to <strong>file cases, own property, enter into contracts, and engage in buying and selling<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the ordinance:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Authority&#8217;s <strong>head office will be in Islamabad<\/strong>, with the power to establish <strong>regional offices<\/strong> across the country.<\/li>\n\n\n\n<li>It will <strong>issue, suspend, or cancel licenses<\/strong> for virtual asset service providers.<\/li>\n\n\n\n<li>The Authority will <strong>formulate regulations<\/strong> for monitoring and regulating virtual assets.<\/li>\n\n\n\n<li>It will also take <strong>measures to prevent money laundering and terrorist financing<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The Authority will have <strong>investigative powers<\/strong>, the ability to <strong>take regulatory actions<\/strong>, and impose <strong>penalties<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A <strong>board<\/strong> will govern the Authority, acting as its top policy-making body. It will include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A <strong>Chairman<\/strong><\/li>\n\n\n\n<li><strong>Two members<\/strong> from the Ministry of Finance and the Ministry of Law<\/li>\n\n\n\n<li>The board may also appoint <strong>additional advisors<\/strong> as members.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The Chairman and non-government members will serve for a <strong>term of three years<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under the ordinance:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No individual can provide <strong>virtual asset-related services without a license<\/strong>.<\/li>\n\n\n\n<li>Operating without a license will be considered a <strong>criminal offense<\/strong> and may result in <strong>fines<\/strong>.<\/li>\n\n\n\n<li>Applicants must submit a <strong>formal application with a prescribed fee<\/strong>.<\/li>\n\n\n\n<li>The Authority will verify the applicant\u2019s <strong>financial and administrative competence<\/strong> and check for any <strong>criminal record<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The Authority can <strong>revoke licenses<\/strong> for regulatory violations or financial instability. It also has the authority to <strong>inspect<\/strong>, <strong>demand records<\/strong>, <strong>summon parties<\/strong>, <strong>suspend services<\/strong>, or <strong>revoke licenses<\/strong> for non-compliance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: President Asif Zardari has issued the Virtual Assets Regulatory Authority Ordinance 2025. The ordinance applies nationwide and comes into immediate effect. The Authority will function as a corporate entity with powers to file cases, own property, enter into contracts, and engage in buying and selling. According to the ordinance: The Authority will have investigative [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","inline_featured_image":false,"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_3859443944190656_798604363342440":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-7751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts\/7751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7751"}],"version-history":[{"count":1,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts\/7751\/revisions"}],"predecessor-version":[{"id":7753,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts\/7751\/revisions\/7753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/media\/7752"}],"wp:attachment":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}