The Pakistan Telecom Authority Required To Block Over 1,600 Crypto Sites.
The Federal Investigation Agency has demanded that the Pakistan Telecommunication Authority shutdown over 1,600 cryptocurrency websites (FIA). The measure came after the State Bank of Pakistan, Pakistan’s central bank, recommended a comprehensive crypto ban (SBP). Meanwhile, the country’s science minister has stated that the government plans to “regularize” cryptocurrency in the country.
The Federal Investigation Agency (FIA) of Pakistan has appealed to the Telecommunication Authority (PTA) seeking that access to more than 1,600 crypto trading websites be blocked, according to Samaa TV, quoting FIA Director Babur Bakht Qureshi.
Last week, the director announced his plan to seek the Telecommunications Authority about banning several cryptocurrency websites. He alleges that bitcoin is being used to launder money.
Furthermore, “Qureshi revealed that a list of individuals involved in the cryptocurrency trade is being prepared,” according to the website. When Bitcoin is prohibited in Pakistan, “these people will be arrested,” he says.
Furthermore, Qureshi stated that those who promote cryptocurrency in Pakistan will face legal consequences. “These people are on the radar of the agency, and action will be taken against them soon,” the director was reported as saying.
A rising number of nations, including the United Kingdom, Singapore, and India, are also cracking down on crypto marketing.
The government is now debating whether to prohibit or regulate cryptocurrencies.
Shibli Faraz, the minister for science and technology, stated Monday at the country’s inaugural blockchain summit co-hosted by his ministry that the government plans to “regularize” cryptocurrencies in the country. He went on to say that the finance ministry, the State Bank of Pakistan (SBP), and the Securities and Exchange Commission are already working on a strategy.
The SBP, on the other hand, has already decided to completely prohibit cryptocurrencies. The central bank presented a report to the Sindh High Court last week urging a nationwide ban on cryptocurrency.
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