Binance Secures AML Registration in Pakistan for Digital Asset Services

According to the announcement from Binance, the company has achieved a significant regulatory milestone in Pakistan. This development follows strategic discussions between Binance's senior leadership and Pakistani government officials, led by Binance Co-CEO Richard Teng. These ongoing engagements underscore Binance's dedication to fostering a regulated and secure digital asset ecosystem within the country. Binance has successfully obtained an Anti-Money Laundering (AML) registration under the framework of Pakistan's PVARA. This achievement marks a crucial step towards full licensing and local incorporation in Pakistan. The phased approach adopted by Binance will allow the company to offer AML-registered cross-border services while preparing for full Virtual Asset Service Provider (VASP) licensing, in accordance with Pakistan's regulatory roadmap. The company emphasizes its commitment to supporting digital economies across South Asia and is eager to continue collaborating with regulators and stakeholders in the region. The goal is to build a robust, transparent, and inclusive virtual asset ecosystem. It is important to note that these regulatory changes are structural and do not alter the way users interact with the platform. Users' day-to-day experience on the platform will remain largely unchanged.