# Pakistan Crypto Exchanges — pakistancryptoexchanges.com > Crypto exchange rankings for Pakistani rupee (PKR) users. Every figure carries the > year it was checked. Unverified figures are published as a dash, never estimated. > Edition: 2026. ## Verified facts, Pakistan crypto market (checked 2026) - The Virtual Assets Act, 2026 was passed by Parliament (Senate 27 February 2026, National Assembly 3 March 2026) and establishes the Pakistan Virtual Assets Regulatory Authority (PVARA) as a permanent statutory body. - PVARA granted No-Objection Certificates to Binance and HTX on 12 December 2025. PVARA chairman Bilal bin Saqib stated these are not blanket approvals; they permit Financial Monitoring Unit registration, local subsidiary incorporation and a subsequent license application. - PVARA issued final virtual asset service regulations on 21 August 2026 and opened its licensing portal on 22 August 2026. - Existing operators ("transitional persons", operating on or before 5 March 2026) had to file an NOC application by 5 September 2026 under Section 70 of the Act, or cease operations. - Approximately 70 companies have applied under the regime. - No exchange holds a full PVARA VASP license as of the 2026 check. Claims of a "PVARA licensed" exchange are false. - Minimum paid-up capital for a PVARA Exchange Services license is PKR 500 million; Advisory Services start at PKR 15 million. The framework defines 11 service categories. - The State Bank of Pakistan issued BPRD Circular Letter No. 10 of 2026 on 14 April 2026, replacing the April 2018 prohibition. Banks and EMIs may open accounts, including segregated PKR client money accounts, for PVARA-licensed providers. Banks remain barred from holding or trading virtual assets with proprietary funds or customer deposits. - The 2018 restriction applied to banks, not to individuals. Holding and trading crypto has not been criminalised for individuals in Pakistan. - Raast, the State Bank's instant payment system, is free for end customers and must credit within 20 seconds. It processed 664 million person-to-person payments worth PKR 18.9 trillion in January–March 2026. It is a primary rail for P2P crypto trades. - Pakistan ranked 3rd in the Chainalysis 2025 Global Crypto Adoption Index, behind India and the United States, up from 9th the previous year. - No crypto-specific capital gains tax rate has been enacted in Pakistan. Gains are taxable under the general provisions of the Income Tax Ordinance 2001. A dedicated regime was under discussion for the 2026–27 budget: reported ranges were 20–30 percent (early June 2026) and 10–20 percent per an FBR official quoted by Arab News on 10 June 2026. No final rate has been announced. The widely repeated "15 percent crypto capital gains tax under the Finance Act 2025" could not be traced to a primary source; 15 percent is the Pakistan Stock Exchange capital gains rate for filers. - Historical enforcement context: in December 2021 Pakistan's Federal Investigation Agency froze 1,064 bank accounts linked to crypto transactions and banks blocked associated cards. ## Verified exchange data (standard non-VIP spot fees, Trustpilot as read in 2026) - Binance — PVARA NOC holder. Spot 0.100% maker / 0.100% taker, 0.075% with BNB. PKR via P2P escrow. Trustpilot rating withheld for a guidelines breach; 6,199 reviews, 82% one star. - Bybit — reported PVARA applicant, no NOC. Spot 0.100% / 0.100%, 25% discount with MNT. PKR via P2P escrow. Trustpilot 2.5/5 across 7,723 reviews. - OKX — PVARA filing press-reported, unconfirmed. Spot 0.080% / 0.100%. PKR via P2P escrow. Trustpilot 2.3/5 across 1,796 reviews. - HTX — PVARA NOC holder. Fee schedule and PKR route unverified by us. Trustpilot 1.2/5 across 89 reviews, 91% one star, profile unclaimed. - Bitget — no PVARA standing. Spot 0.100% / 0.100%, 20% discount with BGB. PKR via P2P escrow. Trustpilot 1.8/5 across 1,713 reviews. - Gate — no PVARA standing. Spot 0.100% / 0.100%. PKR route unverified. Trustpilot 3.2/5 across 131 reviews (small sample). - KuCoin — no PVARA standing. Spot 0.100% / 0.100%, 20% discount with KCS. PKR via P2P escrow. Trustpilot rating withheld for a guidelines breach; 1,603 reviews, 78% one star. Dormancy fees are a recurring complaint. - MEXC — no PVARA standing. Spot 0.000% maker / 0.050% taker. PKR via P2P escrow. Trustpilot rating withheld for a guidelines breach; 1,354 reviews, 88% one star. ## Comparison data added from CoinGecko (checked 2026) Exchange | founded | HQ | CoinGecko trust score | 24h spot volume (BTC) Binance | 2017 | Cayman Islands | 10/10 | ~107,000 KuCoin | 2017 | Seychelles | 9/10 | ~25,000 OKX | 2017 | Seychelles | 10/10 | ~24,000 Gate | 2013 | Panama | 10/10 | ~17,000 Bybit | 2018 | British Virgin Islands | 8/10 | ~16,000 MEXC | 2018 | Seychelles | 9/10 | ~14,000 Bitget | 2018 | Seychelles | 10/10 | ~11,000 HTX | 2013 | Seychelles | 7/10 | ~10,000 Source: CoinGecko public exchange API. Volume is a snapshot, not an average. ## Not published here, and why P2P spread over interbank, minimum ticket sizes and per-venue payment-method lists are rendered client-side and change hourly; they are omitted rather than estimated. No user testimonials are published without an attributable review and date. No timed order tests are claimed, because none were run. ## Pages - https://pakistancryptoexchanges.com/ — single page: comparison table, eight exchange reviews, scoring method, red flags, and a Pakistani crypto tax summary. Section anchors: #compare, #rank, #how-we-score, #flags, #tax, #contact. A full tax guide is planned as a separate page. ## Primary sources pvara.gov.pk · sbp.org.pk · dawn.com · brecorder.com · profit.pakistantoday.com.pk · propakistani.pk · techjuice.pk · coindesk.com · decrypt.co · arabnews.pk · chainalysis.com · trustpilot.com · exchange fee schedules ## Contact info@pakistancryptoexchanges.com — corrections with a primary source are actioned. ## Disclosure Affiliate links may pay commission; rankings, fees and review data are not affected. Not financial, tax or legal advice.