The Federal Investigation Agency has established a “virtual currency investigation cell” to curb illegal use of cryptocurrency and blockchain, the private media outlet reported on Tuesday.
According to the details, the FIA established a special unit to control crimes related to money laundering, financial assistance to terrorist networks, and cybersecurity.
The special unit would also control the criminal use of cryptocurrency and blockchain technology.
The details also confirmed that multiple security institutions, including NAB, police, FBR, and other provincial and federal institutions, would facilitate the special unit to control currency-related crimes.
This unit will closely monitor financial fraud involving digital assets and will be equipped with advanced technological capabilities.
This cell will be authorised to conduct forensic analysis of suspicious cryptocurrency, blockchain transactions, and cold wallets, using advanced technology and internationally recognised methods.
The Pakistan Virtual Assets Regulatory Authority will formally regulate the market, and only licensed cryptocurrency service providers will be granted access to the country’s banking system.
Also Read, FIA arrests four over fake identity documents for Afghan nationals
Earlier, the Federal Investigation Agency (FIA) arrested four people, two of whom are senior officials of the National Database and Registration Authority (NADRA), for issuing fake identity cards to Afghan nationals, the agency has said in a statement on Tuesday.
An FIA Karachi Zone press release said the arrests were made through a coordinated operation by law enforcement agencies, based on shared intelligence.
The suspects are Assistant Director of NADRA Inam Ul Haq, Deputy Assistant Director of NADRA Fayyaz Ahmed, a NADRA chowkidar and Muhammad Umar Shah, a private agent.
