Lex advises one of the world's largest crypto exchange operators on its PVARA NOC
Lex Legal Practice is advising one of the largest crypto exchange operators in the world 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 mandate follows the opening of PVARA's NOC application window and places the firm at the centre of the first cohort of global Virtual Asset Service Providers (VASPs) seeking formal authorisation to serve the Pakistani market.
The engagement covers application strategy, regulatory positioning, and the preparation and legalisation of the supporting corporate and compliance documentation required under the applicable NOC framework. The NOC represents the gateway stage of Pakistan's new virtual assets licensing architecture, preceding full licensing under the activity-specific regime administered by PVARA. Lex Legal Practice is advising on the sequencing of the client's market entry across both stages.
“Pakistan has moved from regulatory silence to a full NOC architecture for virtual assets in under two years. The NOC stage is where global operators establish their standing with PVARA, and precision at this stage pays dividends throughout the licensing journey.”
— Asad Salahuddin, Managing Partner, Lex Legal Practice