The Federal Investigation Agency (FIA) has decided to come down on cryptocurrency dealers and for this purpose they have written a letter to the Pakistan Telecommunications Authority (PTA) to shut down 1,600 websites.
In addition to shutting down these websites, the FIA asked the PTA for help in taking action against the people who looked after them.
The company has started compiling lists of cryptocurrency dealers and operators, according to sources. The Company identified 1,600 websites that were dealing in cryptocurrencies in the letter.
A joint investigation by the FIA Cybercrime Wing and the PTA against cryptocurrencies has been begun already. The federal government, in particular, has announced an intention to govern cryptocurrency and blockchain technologies. Since 2018, the State Bank of Pakistan has declared cryptocurrency illegal in Pakistan.
Addressing the first block-chain summit in Islamabad on Tuesday the Minister of Science and Technology, Shibli Faraz stated the government’s intention to regulate cryptocurrency in Pakistan and that the State Bank of Pakistan, Securities and Exchange Commission, and Finance Division are already working on the idea.
He went on to say that nearly 200 nations has somehow connected block-chain technology in their system and that government has initiated block-chain technology project in its three universities.
Masood Khan, Pakistan’s envoy to the United States, said during his speech at the event that blockchain was a part of emerging technology.
He went on to say, “Blockchain has nothing to do with Bitcoin. It [blockchain] will bring transparency and end corruption.” Blockchain is crucial in the fight against corruption and in healthcare.”
He also discovered that Amazon, the world’s largest e-commerce company, had registered in Pakistan. “Pakistan is working on data protection. It has a good investment environment. The country has moved from geo-politics to geo-economics.”
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