Pakistan Creates Crypto Crime Unit Amid Growing Regulatory Efforts

Pakistan has taken another significant step towards regulating its cryptocurrency industry by setting up a dedicated federal unit to investigate crypto-related crimes. The new unit, created under the Federal Investigation Agency (FIA), will be housed in its newly operational National Command and Control Centre (NC3) and focus on crimes involving digital assets.

The unit will tackle cybercrime, money laundering, terrorism financing, and financial fraud related to cryptocurrencies. This move comes as Pakistan accelerates efforts to formalize its digital asset industry through licensing, regulation, and blockchain initiatives while increasing enforcement against the illicit use of cryptocurrencies.

FIA Counter-Terrorism Wing Director Muhammad Athar Waheed has also recommended that other law enforcement agencies establish similar specialist units to improve the country's ability to tackle crypto-related crime. This suggests a coordinated effort by Pakistani authorities to address the growing threat of cryptocurrency-related crimes.