Complain to a Licensed Crypto Exchange in Pakistan: 24 Hour Reply, 7 Day Update, 30 Days' Notice

Short answer: A PVARA-licensed crypto exchange must give you a written client agreement before it serves you, publish its licence number, fees and risk warnings, acknowledge a complaint within 24 hours, and send a written update if it cannot resolve it within seven working days. It must also give you 30 days' notice of a major change.

Most crypto complaints in Pakistan start the same way. A withdrawal is "pending". The chat support gives a script answer. Nobody tells you how long you must wait, or where to go next. Pakistan's new virtual asset regulations answer both questions for licensed firms. They set time limits for the firm, and they say what it must publish.

We read the Pakistan Virtual Asset Services Regulations, 2026, notified on 21 August 2026, on the PVARA website on 13 October 2026. The rules bind licensed firms. They do not make an unlicensed platform safe, and we could not test any exchange's complaint desk.

The client agreement must be in writing and must list your costs and risks

Before a licensed firm gives you any virtual asset service, it must sign a written client agreement with you. The agreement must be fair, clear and not misleading. You must also get a copy after it is concluded.

The regulations say the agreement must cover at least six things.

• The services and any limits or conditions.
• Fees, charges, spreads and commissions, and how they are worked out.
• Material risks, including custody, technology, market and settlement risk.
• How your assets are safeguarded, including whether they can ever be used.
• The complaints process, with steps and timelines, and any independent dispute scheme.
• When the firm may suspend, restrict or end your service.

Read the fee and "suspend" clauses first. Those two decide whether you lose money or access.

The firm must give 30 days' notice before a major change

If the firm changes the agreement in a material way, it must notify you at least 30 days before the change takes effect. There is one exception. A change needed at once for a legal duty, a cyber incident, a fraud risk or a market integrity risk may be notified as soon as practicable.

So a surprise fee on a Friday evening is a red flag, unless it falls under one of those urgent reasons. The firm must also keep all versions of the agreement and proof of your acceptance for seven years after the relationship ends.

Check these items on the exchange's own website

The regulations require a licensed firm to publish a set of facts in an easy to find place on its website, and to keep them up to date. You can check them in two minutes before you deposit.

If the licence number is missing, stop. Use the steps in how to check a crypto exchange is PVARA licensed before you deposit and compare it with the official list.

A complaint gets a 24 hour acknowledgement and a seven day update

The regulations set minimum steps for a licensed firm's complaint handling. A complaint must be acknowledged within 24 hours. It must be investigated and resolved within a reasonable time. If it cannot be resolved within seven working days, the firm must write to you with the reason for delay and the expected timeframe.

The firm stays responsible even if an agent or group company handled the service. It must also publish clear information on how to complain, with the steps and timelines.

1. Complain through the firm's own channel, in writing, and save the time and date.
2. Expect an acknowledgement within 24 hours.
3. If there is no resolution in seven working days, ask for the written update.
4. Ask for the final response in writing, with reasons.
5. Take the file to PVARA or, for a crime such as theft or fraud, to the cybercrime authorities.

For the step after the firm, see how to complain to PVARA about a crypto scam or unlicensed platform. For theft or fraud, the route in how to report cybercrime to NCCIA applies.

An independent scheme may come later

The regulations also say that where PVARA sets up or recognises an independent dispute resolution scheme for smaller claims, the firm must tell you in writing of your right to use it once it has given a final answer or the time has passed. We found no such scheme named in the regulations, so do not assume one exists yet.

All of this applies to licensed firms. A platform without a licence owes you none of it, and using one can carry penalties, as our guide to the Virtual Assets Act penalties explains.

Common questions

How fast must a crypto exchange reply to my complaint?

Within 24 hours for an acknowledgement. If it is unresolved after seven working days, it must send a written update with reasons and a new date.

Can an exchange change its fees without telling me?

Not for a normal change. It must give 30 days' notice of a material change to the agreement, except for urgent legal, cyber, fraud or market integrity reasons.

Do these rules apply to Binance or other foreign exchanges?

They apply to a firm that holds a PVARA licence for its services in Pakistan. Check the licence status before you rely on them.

Where do I complain if the exchange ignores me?

Take the written record to PVARA. If money was stolen or you were tricked, report it to the cybercrime authorities as well.

Does the exchange have to give me a copy of the agreement?

Yes. The regulations say the firm must give you a copy after the agreement is concluded.

How we verified this

What we checked, where we read it, and what we could not confirm.

Last checked on 13 October 2026, Pakistan time. We read PVARA's legal framework page and the notified Pakistan Virtual Asset Services Regulations, 2026, regulations 52, 53 and 54. We did not test any exchange's complaint desk and we did not find a named independent dispute scheme.