The Pakistan Telecommunication Authority (PTA) and the Federal Investigation Agency (FIA) Cyber Crime are debating how to restrict cryptocurrency websites.
The PTA has written to the FIA’s Cyber Crime Wing, requesting further information on the links and the law that allows cryptocurrency websites to be blocked.
According to PTA sources, the federal watchdog’s Cyber Crime Wing has identified a list of 1600 websites and recommended that PTA prohibit them; however, most of the websites or links are already broken. Some websites are in the business of doing other things, yet they have cryptocurrency links on the side.
Furthermore, no provision of the Prevention of Electronic Crimes Act of 2016, the Foreign Exchange Remittance Act of 1947 (FERA), or the Anti-Money Laundering Act of 2010 (AMLA) addresses the illicit use or misuse of cryptocurrencies.
The PTA has asked more information regarding these websites since the telecom regulator is unsure of the statute under which these websites and links should be prohibited. PTA has received a letter from the FIA Cyber Crime for blocking 1,600 websites and links.
The FIA has prepared a list of cryptocurrency sellers and operators, according to FIA Cyber Crime sources, and a crackdown will be launched soon. According to FIA sources, investigations have stalled because of a lack of grasp of technology.
It’s worth noting that Binance experts are assisting the FIA Cyber Crime Unit in understanding the technology in this area. Blockchain technology is used in cryptocurrency, according to experts.
Anyone interested in learning more about cryptocurrencies should be familiar with blockchain technology. In order to investigate these issues, the FIA Cyber Crime Wing will need blockchain experts in the future.
To recall, the Federal Investigating Agency launched a criminal probe a few weeks ago after receiving several complaints about an ongoing scam in which investors were duped into transmitting funds from Binance wallets to unknown third-party wallets.
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