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.

AccessTimeIconJan 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.

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

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

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