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Policy Event · Medium impact

Pakistan Regulator Calls For Separate Sharia Review Of Stablecoins And Tokenized RWA

Pakistan Virtual Assets Regulatory Authority chair Bilal bin Saqib said stablecoins, tokenized real-world assets and blockchain products should receive separate technical and Sharia assessments rather than be treated as one category. The position creates a policy template for Islamic-finance review of digital assets across Pakistan, the Gulf and Southeast Asia.

Medium impact🇵🇰 PakistanRegulationStablecoinTokenizationUSDTUSDCPVARABilal bin SaqibMufti Taqi Usmani

APAC FINSTAB analysis

For APAC operators, this creates a medium-impact signal around regulation, stablecoin, tokenization in Pakistan. Protocols/assets in scope: USDT, USDC. Named institutions or platforms: PVARA, Bilal bin Saqib, Mufti Taqi Usmani. Teams should monitor the original source, map the change to licensing, custody, disclosure, and market-access obligations, and update their jurisdiction playbooks before the next compliance review.

Compliance read-through: map this event to entity licensing, market-access, custody, disclosure, token listing, and operational-risk obligations before expanding or marketing in the affected jurisdiction.

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