Lex Legal Practice acts for Hong Kong based Cyrpto Wallet Provider on full-scope PVARA NOC
Lex Legal Practice is advising a Hong Kong-headquartered stablecoin payments company on obtaining a No Objection Certificate (NOC) from the Pakistan Virtual Asset Regulatory Authority (PVARA) for the provision of Virtual Asset Services in Pakistan.
The proposed NOC scope is among the broadest yet pursued under the Pakistani regime. The engagement involves mapping each proposed service line against the activity-specific regulatory framework administered by PVARA, and structuring the application so that the client's global product suite can be delivered to Pakistani users within the statutory perimeter.
“A multi-activity NOC application is, in substance, six regulatory analyses in one. The craft lies in presenting a coherent single application in which each service line stands on its own regulatory footing.”
— Rubab Cheema, Senior Associate, Lex Legal Practice