According to the latest information, Pakistan Federal Agency of Investigation (FIA) aims to ban cryptocurrency related websites.
The decision was taken after the FIA’s meeting with the State Bank of Pakistan (SBP).
As it is known, SBP demanded a complete ban on cryptocurrencies.
Pakistani FIA Aims to Ban Cryptocurrency Websites
According to the news in Dawn newspaper today, Pakistan Federal Research Agency (FIA) will ban websites that engage in activities related to cryptocurrencies.
According to the information on the Pakistani government’s website, the FIA undertakes the duties of “border control, criminal investigation, counterintelligence and security agency under the control of Pakistan’s Ministry of Interior”.
FIA director general Dr. In his press releases, Sanaullah Abbasi will ask the agency to contact the Pakistan Telecommunications Authority (PTA) to block cryptocurrency-related websites to prevent various crimes such as fraud and money laundering.
Abbasi’s statement came after a meeting with senior officials of the country’s central bank, the State Bank of Pakistan (SBP).
The FIA director said: “SBP officials made a presentation for some sort of regulatory mechanism.”
During the meeting, SBP officials stated that they offered advice on the legal framework of cryptocurrencies in Pakistan, in line with the instructions of the Sindh High Court.
Allegedly, State Bank of Pakistan (SBP) officials demanded a full-blown ban on cryptocurrencies.
Stating that his department mainly works on fraud and money laundering prevention, the FIA director general claimed that cryptocurrencies add a new dimension to scams.