The Senate Standing Committee on Cabinet Secretariat today approved the pivotal Virtual Assets Bill, 2025, a significant legislative move aimed at formalising Pakistan”s burgeoning digital asset sector.
The proposed law, emphasised by the committee for its importance to the nation”s financial ecosystem, seeks to establish a dedicated regulatory authority. This new body will be tasked with the licensing and supervision of virtual asset service providers to safeguard investors, enhance transparency, and ensure market integrity.
Chaired by Senator Rana Mahmood Ul Hassan, the committee conducted a thorough examination of the government bill at Parliament House. The session included the attendance of Senator Muhammad Aurangzeb, the Minister for Finance and Revenue.
The legislation was originally introduced during the Senate sitting on August 15, 2025, by Dr. Tariq Fazal Chaudhary, Minister for Parliamentary Affairs, on behalf of the finance minister. After comprehensive deliberation, the standing committee endorsed the bill, marking a major step toward regulating the country”s virtual asset landscape.
Attending the meeting were senators Farooq Hamid Naek, Saleem Mandiwalla, Saadia Abbasi, Amir Waliuddin Chishti, Mohammad Abdul Qadir, Samina Mumtaz Zehri, Jan Muhammad, Syed Waqar Mehdi, Dr. Afnan Ullah Khan and Senator Sherry Rehman.
Earlier in the proceedings, the committee also disposed of a Calling Attention Notice from Senator Samina Mumtaz Zehri. The notice pertained to an alarming August 2024 United Nations report detailing the massive destruction and displacement caused by floods in Sindh and Balochistan, which was concluded after a briefing.