ISLAMABAD – A Senate body met on Wednesday at Parliament House to discuss the proposed “Virtual Assets Bill, 2025.” The meeting was chaired by Senator Saleem Mandviwalla, who emphasized the need for a transparent and balanced framework to regulate virtual assets in Pakistan.
The Senate body on Finance and Revenue held detailed discussions on the bill, which aims to bring virtual assets under regulation in line with international standards. During the meeting, Mandviwalla pointed out several gaps in the draft. He stressed that the legislation should avoid giving room for discretion and should instead provide a fair, level playing field for all stakeholders.
The chairman also underlined the importance of simplifying the registration process for companies dealing in virtual assets. According to him, an efficient and streamlined method would help attract investment and build confidence among local and foreign investors.
Members of the Senate body raised various concerns about the draft bill. They identified weaknesses and proposed amendments to make the legislation stronger and more effective. After a round of rigorous discussions, the committee agreed that further work was required to refine the bill before moving forward.
The meeting was attended by Senators Anusha Rahman Ahmad Khan, Dilawar Khan, Mohsin Aziz, Syed Faisal Ali Subzwari, Afnan Ullah Khan, Ahmed Khan, and Mohammad Abdul Qadir. Senior officials, including Secretary Finance and Revenue Imdad Ullah Bosal and Executive Director of the State Bank of Pakistan Dr. Inayat Hussain, also participated in the deliberations.
By actively reviewing and proposing changes, the Senate body signaled its intent to ensure that the new legislation not only meets global standards but also protects the interests of businesses and investors in Pakistan.
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