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Meghna Das Chowdhury
Jan 20, 2022
by Meghna Das Chowdhury

Pakistan’s FIA Asks Telecom Authority to Block Over 1600 Crypto Sites

Pakistan 1600 crypto sites
Samaa TV reported last Tuesday, citing FIA Director Babur Bakht Qureshi, that Pakistan's Federal Investigation Agency (FIA) has written to the Pakistan Telecommunication Authority (PTA) seeking a prohibition on the access to more than 1,600 cryptocurrency trading websites. Last week, the director announced his plan to seek the Telecommunications Authority over the shutdown of various crypto websites. Cryptocurrency, he believes, is being used for money laundering.

Qureshi said “a list of those involved in the Bitcoin trade is being compiled," according to the website. When Bitcoin is banned in Pakistan, he says, "These guys would be jailed." Furthermore, Qureshi stated that those who promote cryptocurrency in Pakistan will be prosecuted. The director was cited as adding, "These persons are on the radar of the agency, and action will be done against them soon."

Pakistan Still Comprehending What To Do with Crypto

Pakistan's government is debating whether or not to ban or regulate Bitcoin. Shibli Faraz, Pakistan's minister of science and technology, said last Monday during the country's inaugural blockchain summit, which his ministry co-hosted, that the government plans to "regularize" cryptocurrencies in Pakistan. He went on to say that the finance ministry, the State Bank of Pakistan, and the Pakistan Securities and Exchange Commission are all working on a strategy right now.

The State Bank of Pakistan (SBP), on the other hand, has already decided to outrightly ban cryptocurrencies. The central bank presented a report to the Sindh High Court last week suggesting that cryptocurrency be banned entirely.

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Pakistan’s FIA Asks Telecom Authority to Block Over 1600 Crypto Sites
Meghna Das Chowdhury
Meghna is a graduate of the Indian Institute of Journalism & New Media specializing in Print Journalism. She is currently working as a content writer for Agio Support Solutions Pvt. Ltd. She aims to provide quality content and strategy in the field of cryptocurrency and work with digital marketing platforms to deliver brand-specific strategies.

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