Pakistan sets up federal crypto crime unit to crack down on illicit activity

Pakistan sets up federal crypto crime unit to crack down on illicit activity

Pakistan's Federal Investigation Agency has created a dedicated unit to combat crypto-related crimes, signaling stricter enforcement in the country.

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Pakistan's Federal Investigation Agency has established a dedicated unit to combat crypto-related crimes, signaling a stricter enforcement approach in the country. A senior FIA official reportedly recommended that other agencies set up similar units to address the growing challenge of illicit activities involving digital assets. The move underscores Pakistan's efforts to regulate the crypto space and crack down on fraud, money laundering, and other financial crimes. While the unit aims to enhance oversight, the increased scrutiny could dampen speculative trading sentiment in the short term, as traders may anticipate tighter controls. The development reflects a broader global trend of governments intensifying crypto enforcement, which may lead to reduced liquidity and higher volatility in local markets.

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