Pakistan Telecom Authority Asked to Block Over 1,600 Crypto Sites — Minister Says Government Intends to ‘Regularize’ Crypto

Date:

Pakistan’s Federal Investigation Agency (FIA) has written to the Pakistan Telecom Authority (PTA) requesting the telecom regulator to block access to more than 1,600 crypto trading websites, Samaa TV reported Tuesday, citing FIA Director Babur Bakht Qureshi.

The director first revealed his intention to approach the Telecommunication Authority about blocking some crypto websites last week. He claims that cryptocurrency is being used for money laundering.

In addition, “Qureshi revealed that a list of individuals involved in the trade of cryptocurrency is being prepared,” the publication conveyed. He added that “These people will be arrested” when cryptocurrency is banned in Pakistan.

Furthermore, Qureshi said that action will be taken against individuals who promote cryptocurrencies in Pakistan. “These people are on the agency’s radar and soon an action will be taken against them,” the director was quoted as saying.

A growing number of countries are cracking down on crypto advertisements, including the U.K., Singapore, and India.

Pakistan Is Still Evaluating What to Do With Crypto

The government of Pakistan is currently evaluating whether to ban or regulate cryptocurrency.

Pakistan’s minister for science and technology, Shibli Faraz, said Monday at the country’s first blockchain summit hosted in collaboration with his ministry that the government intends to “regularize” cryptocurrency in the country. He elaborated that the finance ministry, 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) has already made its decision to entirely ban cryptocurrencies. Last week, the central bank submitted a report to the Sindh High Court recommending a complete ban on crypto.

The Sindh High Court subsequently directed the law and finance ministries to evaluate the SBP’s recommendations and decide whether to ban crypto or allow some related activities in the country. The court asked the two ministries to submit their joint report in April.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Updates

More like this
Related

Destiny 2 | Beyond Light | Season of the Chosen | PS4 PS5 Trailer

With the Pyramids and Xivu Arath destabilizing the system,...

How Samsung Galaxy S21 can be better than iPhone 12?

The Samsung Galaxy S21 can overtake the iPhone 12...

Kristen Stewart stuns in a bridal white strapless gown, check out

Kristen Stewart looked incredibly chic in a bridal white...

Fighting Dracula’s Brides | Van Helsing | 4K HDR

https://youtu.be/mxBHoLHQ-0c When Van Helsing (Hugh Jackman) arrives in Transylvania, he...

You cannot copy content of this page