Pakistan has given crypto platforms until Sept. 5 to enter its new licensing regime or stop serving the market, moving the country from broad crypto policy toward formal supervision.

The Pakistan Virtual Assets Regulatory Authority, or PVARA, opened a licensing portal on Aug. 22 after issuing final virtual-asset service regulations a day earlier.

Bilal Bin Saqib, PVARA’s Chairman, said:

“This market [previously] existed without a clear regulatory pathway. Today, that changes. We now have the rules, the regulator and the licensing framework to bring virtual assets into the formal economy, protect consumers and build the foundation for the next generation of financial infrastructure. Today we built the rules. Now we build the…