Pakistan’s banking restriction explicitly names Pakcoin

Historical retrospective compiled on 24 October 2026. Dated to the State Bank of Pakistan circular of 6 April 2018.

Evidence: Official historical regulatory circular.

The State Bank of Pakistan’s April 2018 circular explicitly named Pakcoin among virtual currencies that were not legal tender or issued or guaranteed by the government. It instructed banks and other specified regulated financial institutions against dealing in these assets or facilitating customers’ virtual-currency transactions. For Pakcoin, the circular was significant because it directly addressed the financial channels through which users might acquire or exchange the currency. Its scope should be described accurately: this was a direction to regulated institutions in 2018. It should not be used on its own to characterize every form of private use or Pakistan’s present regulatory framework.

Sources: State Bank of Pakistan circular.