Pakistan Establishes Crypto Unit to Combat Money Laundering

Pakistan has created a new team to investigate illegal activities involving cryptocurrencies.

This team will work under the Federal Investigation Agency (FIA) and will focus on preventing money laundering and terrorism financing.

The FIA's National Command and Control Centre will oversee this unit, which will operate alongside the primary regulator, the Pakistan Virtual Assets Regulatory Authority.

This move comes after Pakistan was removed from the Financial Action Task Force (FATF) grey list in 2022, showing the country's commitment to meeting international standards against illegal financial activities.