Pakistan Establishes Crypto Investigation Unit to Combat Money Laundering

Pakistan's Federal Investigation Agency (FIA) has launched a cryptocurrency investigation unit within its National Command and Control Centre (NC3) to address money laundering and terrorism financing involving virtual currencies. The unit will focus on investigating the criminal use of cryptocurrencies, while the Pakistan Virtual Assets Regulatory Authority (PVARA) will regulate digital assets. FIA Counter-Terrorism Wing Director Dr Muhammad Athar Waheed emphasized the need for collaboration with other agencies, such as the National Cyber Crime Investigation Agency and the Anti-Narcotics Force, to combat crypto-related cybercrime and drug trafficking. New regulations are being developed to ensure timely investigations. The NC3 consolidates FIA's financial crime tools, including anti-money laundering and virtual currency investigation desks. Pakistan, ranked third in the Chainalysis 2025 Global Crypto Adoption Index, has taken significant steps to formalize the crypto sector, including lifting an eight-year banking ban on cryptocurrencies and advancing licenses for crypto exchanges. However, a ruling from the Jamia Darul Uloom Karachi seminary questioned the legitimacy of cryptocurrencies under Islamic law, complicating the government's plans. PVARA chairman Bilal bin Saqib has requested clarification from the seminary regarding the distinction between speculative tokens and asset-backed instruments. The establishment of the FIA unit aligns with Pakistan's regulatory goals, even as the permissibility of crypto remains debated among religious scholars.

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