Islamabad: Pakistan Virtual Assets Regulatory Authority (PVARA) held its first board meeting in Islamabad on Tuesday marking a pivotal step in Pakistan's journey toward embracing blockchain, virtual assets and the digital economy.The meeting was attended by Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, as a special invitee, alongside Minister of State for Crypto and Blockchain and PVARA Chairman Bilal bin Saqib, the Governor of the State Bank of Pakistan, Federal Secretaries of the Ministries of IT and Law and Justice, Chairman of the Federal Board of Revenue (FBR), Chairman of the Securities and Exchange Commission of Pakistan (SECP), and key stakeholders, including representatives from the National Cyber Crime Investigation Agency (NCCIA).In his address, Finance Minister Senator Muhammad Aurangzeb hailed the establishment of the authority as a transformative milestone in Pakistan's economic evolution. He emphasized the Authority's critical role in positioning Pakistan as a leade r in the global virtual assets economy.The Finance Minister reiterated the government's unwavering support for the authority underscoring its role in promoting the responsible adoption of virtual assets and strengthening Pakistan's financial system against illicit activities.Special Assistant to Prime Minister on Blockchain and Crypto Bilal bin Saqib said Pakistan Virtual Assets Regulatory Authority will safeguard financial integrity while fostering innovation, investment, and opportunity in the virtual assets space. He said our goal is to build trust domestically and enhance Pakistan's credibility as a forward-thinking player in the global virtual assets economy.The board meeting agreed to form dedicated committees focused on sandbox experimentation, taxation policies, regulatory drafting, and international engagement. A draft of the proposed licensing framework was also shared with the members for consultation, which will be finalized in the coming days.It also approved the creation of a complaint p ortal, developed in collaboration with the National Cyber Crime Investigation Agency (NCCIA), to address concerns related to virtual assets and provide timely redressal.