Pakistan’s Federal Investigation Agency (FIA), which investigates serious and organized crime, said it will ask Pakistan Telecommunication Authority (PTA) to block websites dealing in cryptocurrencies, according to a report by Dawn.
- The proposal is intended to counter fraud and possible money laundering by blocking crypto-linked websites, FIA Director-General Sanaullah Abbasi said at a press conference Saturday after meeting with officials of the State Bank of Pakistan (SBP).
- SBP has already submitted recommendations for regulating cryptocurrencies, Abbasi said.
- “Crypto has given a new dimension to the fraud,” said Abbasi, adding that his agency will approach legal experts to deal with fraud and other issues arising from crypto currency dealings.
- Earlier this month the FIA said it wanted to talk with Binance, the world’s largest crypto exchange, as part of an investigation into a suspected scam it said has cost several thousand investors more than $100 million.
- On Jan. 13, local media reported the government of Pakistan and its central bank want to ban the use of cryptocurrencies, citing a document submitted to a provincial court.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.