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The Federal Bureau of Investigation (FIA) has asked the Pakistan Telecommunications Authority to ban more than 1,600 encrypted websites. The action comes after the central bank, the State Bank of Pakistan (SBP), proposed a blanket ban on cryptocurrencies. Meanwhile, the country’s science minister said the government intends to “regulate” cryptocurrencies in the country.
Pakistan’s FIA Takes Action Against Crypto Websites, Backs Central Bank’s Crypto Ban Proposal
The Federal Bureau of Investigation (FIA) of Pakistan has written to the Pakistan Telecommunications Authority (PTA) asking the telecom regulator to block access to more than 1,600 crypto trading websites, Samaa TV quoted FIA director Babur Bakht Qureshi as saying on Tuesday.
Let’s talk about the director disclose Last week, he planned to contact the Telecommunications Authority about blocking some encrypted websites. He claimed that cryptocurrencies were used for money laundering.
Additionally, “Qureshi revealed that a list of individuals involved in cryptocurrency exchanges is being prepared,” the publication conveyed. He added that “these people will be arrested” when Pakistan bans cryptocurrencies.
Additionally, Qureshi stated that action will be taken against individuals promoting cryptocurrencies in Pakistan. “These people are on the agency’s radar and action will be taken against them soon,” the director was quoted as saying.
A growing number of countries are cracking down on crypto advertising, including UK, Singapore, and India.
Pakistan is still evaluating how to handle cryptocurrencies
The Pakistani government is currently evaluating whether to ban or regulate cryptocurrencies.
Pakistan’s science and technology minister Shibli Faraz said Monday at the country’s first blockchain summit held in partnership with his ministry that the government intends to “regulate” cryptocurrencies in the country. He detailed that the Ministry of Finance, the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan are already working on a plan.
However, the State Bank of Pakistan (SBP) total ban decision cryptocurrency. Last week, the central bank submitted a report to the Sindh High Court recommending a complete ban on cryptocurrencies.
The Sindh High Court then directed the Law and Finance Ministry to evaluate the SBP’s recommendations and decide whether to ban crypto or allow some related activities in the country. The court ordered the two ministries to submit a joint report in April.
Do you think the Pakistan Telecommunications Authority will block 1,600 cryptocurrency websites as per the FIA’s request? Let us know in the comments section below.
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