By Ariba Shahid

KARACHI, Dec 12 (Reuters) – Pakistan has given initial clearance for Binance, one of the world’s largest crypto exchanges, and HTX, a digital-asset platform, to register ‍with regulators, set up local subsidiaries and begin preparing full exchange licence applications, the virtual assets authority said on Friday.

The move comes as jurisdictions such as the United Arab Emirates, Japan and parts of the European Union expand formal licensing rules for crypto exchanges amid ‌broader global regulatory tightening.

The Pakistan Virtual Assets Regulatory ‌Authority (PVARA) said it had issued No Objection Certificates (NOCs) after reviewing the platforms’ governance, compliance and risk controls.

The clearances “do not constitute a full operating license” but let Binance and HTX

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