{"id":1179,"date":"2022-01-16T21:51:09","date_gmt":"2022-01-16T21:51:09","guid":{"rendered":"http:\/\/www.cryptoheretostay.com\/?p=1179"},"modified":"2022-01-16T21:51:10","modified_gmt":"2022-01-16T21:51:10","slug":"pakistan-seeks-to-block-websites-dealing-in-cryptocurrency-report","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=1179","title":{"rendered":"Pakistan Seeks to Block Websites Dealing in Cryptocurrency: Report"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>Pakistan\u2019s Federal Investigation Agency (FIA) is reportedly seeking to block websites dealing in cryptocurrency. The decision followed a meeting the agency had with the State Bank of Pakistan (SBP) which recently recommended a complete ban on crypto.<br \/><\/strong><\/p>\n<h2>Pakistan\u2019s FIA Reportedly Seeks to Block Cryptocurrency Websites<\/h2>\n<p>Pakistan\u2019s Federal Investigation Agency (FIA) is seeking to block websites dealing in cryptocurrency, Dawn newspaper reported Sunday. The FIA is \u201ca border control, criminal investigation, counter-intelligence, and security agency under the control of the Interior Secretary of Pakistan,\u201d according to the Pakistani government website.<\/p>\n<p>FIA Director-General Dr. Sanaullah Abbasi told the press Saturday that his agency will approach the Pakistan Telecommunication Authority (PTA) to block crypto websites to prevent fraud and money laundering.<\/p>\n<p>His statement followed a meeting he had with senior officials of the State Bank of Pakistan (SBP), the country\u2019s central bank. The FIA chief said:<\/p>\n<p>The SBP officials gave a presentation in the meeting about a regulating mechanism.<\/p>\n<p>During the meeting, the SBP officials noted that the central bank recently submitted recommendations under the direction of the Sindh High Court on the legal framework for cryptocurrencies in Pakistan. The State Bank has recommended a complete ban on cryptocurrency.<\/p>\n<p>Emphasizing that his department is mainly concerned about fraud and money laundering, the FIA director-general opined:<\/p>\n<p>Crypto has given a new dimension to fraud.<\/p>\n<p>The FIA chief proceeded to discuss existing Pakistani laws: the Prevention of Electronic Crimes Act 2016; the Foreign Exchange Remittance Act 1947 (FERA); and the Anti-Money Laundering Act 2010 (AMLA). He stressed that they do not contain provisions for the illegal and misuse of cryptocurrencies.<\/p>\n<p>In addition, the meeting with the SBP officials highlighted that Pakistan has \u201cno regulatory framework for virtual asset service providers (VASPs) in order to comply with the FATF [Financial Action Task Force] requirements,\u201d the publication conveyed.<\/p>\n<p>Abbasi added that the FIA recently initiated a probe into a massive financial scam after 11 apps linked to cryptocurrency exchange Binance stopped working. The scheme allegedly defrauded Pakistani investors of over $100 million.<\/p>\n<p><em><strong>What do you think about the Pakistani FIA seeking to block cryptocurrency websites? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p class=\"icymi_title\">Near Foundation Raises $150 Million to Bolster Web3 Adoption<\/p>\n<p class=\"icymi_excerpt\">On Thursday, the Near Foundation announced the project has raised $150 million from strategic investors such as Three-Arrows Capital, a16z, Mechanism Capital, Dragonfly Capital, and Circle Ventures. Following the announcement, the Near protocol\u2019s native crypto asset jumped more than 7% &#8230; read more.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/pakistan-seeks-to-block-websites-dealing-in-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan\u2019s Federal Investigation Agency (FIA) is reportedly seeking to block websites dealing in cryptocurrency. The decision followed a meeting the agency had with the State Bank of Pakistan (SBP) which recently recommended a complete ban on crypto. Pakistan\u2019s FIA Reportedly Seeks to Block Cryptocurrency Websites Pakistan\u2019s Federal Investigation Agency (FIA) is seeking to block websites [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-1179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1179"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1179\/revisions"}],"predecessor-version":[{"id":1181,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1179\/revisions\/1181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/1180"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}