Pakistan’s Crime Agency to Ask Telecom Authority to Block Crypto Websites: Report

The State Bank of Pakistan has already submitted recommendations for regulating cryptocurrencies.

Jan 17, 2022 at 3:20 p.m. UTC
Updated Jan 18, 2022 at 4:46 p.m. UTC

Aoyon Ashraf is crypto mining reporter with more than a decade of experience in covering equity markets

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.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

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.

CoinDesk - Unknown

Aoyon Ashraf is crypto mining reporter with more than a decade of experience in covering equity markets

CoinDesk - Unknown

Aoyon Ashraf is crypto mining reporter with more than a decade of experience in covering equity markets

Trending

1
CoinDesk - Unknown
Jae Kwon Returns to ‘NewTendermint’ to Battle for the Soul of Cosmos

Ignite, which rebranded from Tendermint in February, will split into two entities: Ignite and NewTendermint.

Ignite, which rebranded from Tendermint in February, will split into two entities: Ignite and NewTendermint.

CoinDesk - Unknown
2
CoinDesk - Unknown
Crypto Whales Ditched Tether for USDC After Stablecoin Panic

The UST failure prompted large investors on the Ethereum blockchain to leave USDT for the perceived safety of its biggest competitor.

The UST failure prompted large investors on the Ethereum blockchain to leave USDT for the perceived safety of its biggest competitor.

CoinDesk - Unknown
3
CoinDesk - Unknown
FTX’s Bankman-Fried Pitches CFTC on Directly Clearing Customers’ Crypto Swaps

The crypto exchange’s founder and CEO made his case at a Washington D.C. roundtable, while mainstream derivatives firms painted his ideas as dangerous.

The crypto exchange’s founder and CEO made his case at a Washington D.C. roundtable, while mainstream derivatives firms painted his ideas as dangerous.

CoinDesk - Unknown
4
CoinDesk - Unknown
Terra lanzaría su snapshot esta semana: cómo serán distribuidos los 'nuevos' LUNA

El suministro de tokens en la nueva blockchain será de poco más de $116 millones, dijeron los desarrolladores.

El suministro de tokens en la nueva blockchain será de poco más de $116 millones, dijeron los desarrolladores.

CoinDesk - Unknown