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The FIA’s cybercrime wing has written to the Pakistan Telecommunication Authority (PTA) to block access to more than 1600 crypto trading websites.
However, Federal Minister for Science & Technology Shibli Faraz has said that Pakistan has plans to adopt the blockchain technology that serves as a backbone for cryptocurrencies.
Director FIA Babar Bakht Qureshi has previously said that cryptocurrency is being used for money laundering. Today, Qureshi revealed that a list of individuals involved in the trade of cryptocurrency is being prepared.
“These people will be arrested since the trade of cryptocurrency is banned in Pakistan.”
A few days ago, Science Minister Shibli Faraz, in his address to the blockchain summit, said that the finance division, State Bank of Pakistan and Securities and Exchange Commission of Pakistan (SECP) are working on the regularization of cryptocurrency.
He also said that his ministry is introducing degrees in blockchain technology in three universities.
“Blockchain can help banks save Rs 8b to Rs10b annually. It will also make elections transparent,” Faraz said.
