“The currency is at high risk as there is fraud in it and will never be allowed in Pakistan,” officials added.


Islamabad: The federal government of Pakistan Wednesday decided to ban the services of crypto-currency on the internet to prevent its use in Pakistan.
According to details, a meeting of Senate Standing Committee on Finance was held in which the officials said that State Bank of Pakistan (SBP) and Ministry of Information and Technology (MoIT) have started working on crypto-currency.
Federal Minister of State for Finance Aisha Ghaus Pasha said: “Crypto-currency will never be legalized in Pakistan as Financial Action Task Force (FATF) has also imposed conditions.
SBP officials stated that crypto-currency is an imaginary currency and its market has decreased from 2.8 trillion dollars to 1.2 trillion dollars.
“The currency is at high risk as there is fraud in it and will never be allowed in Pakistan,” officials added.
Senator Saleem Mandviwala said that billions of dollars have been invested in crypto-currency from Pakistan.
State Bank officials said that Federal Investigation Agency (FIA) is taking action on Pakistani investment in crypto currency, as more than 16 thousand crypto currencies have been created.
Iran confirms assassination attempt on President Pezeshkian amid Israeli airstrikes
- 4 hours ago
PTI launches 90-day ‘do or die’ movement across Pakistan
- 5 hours ago

High risk near rivers as Tarbela spillways open today
- 4 hours ago

Wildlife force deployed as no-bird zones enforced near Lahore airport
- 4 hours ago

Emergency vaccination reduced deaths by nearly 60% during epidemics, study finds
- 2 hours ago
WhatsApp introduces new feature to show how many people are typing in group chats
- 2 hours ago
Rawalpindi to Multan bus meets accident; 5 in critical condition
- 5 hours ago

Yanks' Rodon replaces Fried on AL All-Star team
- 13 hours ago

Sindh police give 10-day deadline to personnel to quit gutka, mawa use
- 3 hours ago
WWE icon Goldberg bids farewell after 27-year wrestling career
- 5 hours ago
Kim Jong-un offers full support to Russia in Ukraine war
- an hour ago

Kashmir Martyrs’ Day: A historic reminder of struggle and sacrifice
- 5 hours ago