ISLAMABAD – The Federal Investigation Agency (FIA) has sent a letter to the Pakistan Telecommunication Authority (PTA), seeking to block websites dealing in cryptocurrency.
The decision was taken in a meeting FIA had with the State Bank of Pakistan (SBP) which recently recommended a complete ban on all cryptocurrencies in the country.
Reports said that FIA is likely to launch a crackdown against people involved in the dealing of the digital currencies as it has started preparing lists the crypto traders.
Besides recommending action against the 1600 websites, the country’s top probe agency has also sought help from PTA to trace the people involved in such activities.
Last week, the central bank recommended a complete ban on the use of all cryptocurrencies in a report submitted to the Sindh High Court (SHC).
A two-member bench headed by Justice Karim Khan Agha was hearing the case when SBP Deputy Governor Seema Kamil submitted the report recommending that ban should be imposed on cryptocurrencies.
Scores of Pakistanis have invested in the virtual currency despite the absence of laws and rules to regulate the digital currencies in the country.
Earlier this month, FIA launched a probe against 11 fake apps dealing in crypto trading.
The fake apps were identified as MCX, HFC, HTFOX, FXCOPY, OKIMINI, BB001, AVG86C, BX66, UG, TASKTOK and 91fp. All were using Binance blockchain addresses for transactions.
The agency also sent a notice to Binance’s representative seeking company’s position on linkage to “fraudulent online investment mobile applications”.
In response, Binance has nominated a two member team to coordinate with FIA Cyber Crime.
Read more: https://pakobserver.net/cryptocurrency-scam-involving-billions-of-rupees-unearthed-in-pakistan/
