Binance | Pakistan

ISLAMABAD: Fauji Foundation – the country’s one of the largest business conglomerate – has signed a Letter of Intent (LOI) with Binance, the leading global blockchain and cryptocurrency exchange by trading volumes and users, for commercial collaboration in blockchain, cryptocurrency and payments in Pakistan. The announcement was made by Paki­stan Crypto Council (PCC) in a statement on Monday disclosing that the LoI was signed on Dec 12 at the Fauji Foundation Headquarters, Rawalpindi. The statement said the two sides will explore potential commercial collaboration on blockchain, cryptocurrency, payments and Web 3.0 ecosystem within Pakistan. “As part of the LoI, Binance will deploy its expertise, advisory support and technological and market insights on the crypto industry, and Fauji Foundation will partner with Binance on payment infrastructure solutions utilising digital assets”, the statement said. Both sides will further cryptocurrency and blockchain education through their academic wings to learners thro...

Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) Bilal Bin Saqib has said that the no-objection certificates (NOCs) issued to global cryptocurrency exchanges Binance and HTX were not a “blanket approval” but the “first step under a risk-mitigated, phased, supervised entry framework”. View this post on Instagram Saqib’s video statement, televised on Sunday, comes after Pakistan gave initial clearance for Binance and HTX on Friday to register with regulators to set up local subsidiaries and begin preparations for full exchange licence applications. The clearances allow the exchanges to register on the Anti-Money Laundering system, set up local units and prepare full applications. Speaking about the development, Saqib said the issuance of the NOCs to Binance and HTX was the “first practical step” that reflected a “new mindset”. He further said that the step was based on the “Pakistan-first” approach. Saqib detailed that by working under a supervised entry framework, authorities had been able ...

Pakistan has signed a memorandum of understanding with crypto exchange Binance to explore the “tokenisation” of up to $2 billion in sovereign bonds, T-bills and commodity reserves to boost liquidity and attract investors, the finance ministry said on Friday. Tokenisation is the process of creating a digital version of an asset. Separately, Pakistan also gave initial clearance for Binance and HTX, a digital-asset platform, to register with regulators to set up local subsidiaries and begin preparations for full exchange licence applications, the Pakistan Virtual Assets Regulatory Authority (PVARA) said. The ministry said the agreement paved the way to explore a potential collaboration aimed at enabling the tokenisation and blockchain-based distribution of real-world assets, including sovereign bonds, treasury bills, commodity reserves such as oil, gas, metals or other raw materials owned by the government. “Under the proposed arrangement, Binance and/or its affiliates may provide technical expertise, advisory s...

ISLAMABAD - Binance senior leadership Saturday visited Pakistan as the government signaled strong commitment to digital asset regulation.

US President Donald Trump has pardoned convicted Binance founder Changpeng Zhao, a White House official said on Thursday. In a statement, White House press secretary Karoline Leavitt said Trump had “exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency.“ Binance did not immediately respond to a request for comment. Zhao, one of the most powerful people in the crypto world, had to step down as chief of Binance when the company agreed to a $4.3 billion settlement with the US government to end a years-long probe into misconduct at the world’s largest crypto exchange. Trump’s pardon of Zhao paves the way for the crypto mogul to return to the business he helped found in 2017. He has already served his time in prison after a judge sentenced him to four months. Zhao’s pardon is the latest in a series Trump has doled out to executives convicted of white collar crimes. Earlier in April, he was appointed as a strategic advi...