Pakistan freezes over 1,000 accounts and cards that are used for crypto trading-

The authorities in Pakistan have reportedly confiscated hundreds of bank accounts and maps from cryptocurrency dealers. According to local media, they were allegedly used to handle digital assets, including large platforms, transactions worth almost $ 300,000.

Pakistani government blocks maps that are used to buy cryptocurrencies, media unveiled

bank accounts in the name of 1,064 people were made by the Pakistanische Federal Investigation Agency ( fia ). At the request of the Cyber ​​Crime Reporting Center (CCRC), the law enforcement authority acted in Islamabad, the Pakistan Observer shared on Wednesday.

civil servants claim that the accounts were used to process transactions worth a total of 51 million Pakistani rupees (around $ 288,000), which were made by people and by a series of crypto exchanges, including known platforms such as Binance, Coinbase and Coinmama.

The agency also blocked its credit cards that are used to buy and sell digital coins, added the publication. It also reminded the residents of the fact that the State Bank of Pakistan ( sbp ) banned the purchase and sale of cryptocurrencies with a circular that was published by its department for banking policy and regulation in April 2018.

Despite the ban, crypto such as Bitcoin is enjoying growing popularity among investors in the country. According to an estimate from a recently published report by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) stop Cryptocurrency worth $ 20 billion.

At a press conference last week, FPCCI President Nasir Hayat Magoon found that the quoted evaluation of the digital currency in possession of Pakistaners is based on investigations by the association's policy. In reality, the true sum of the crypto stocks can be much higher, as many Pakistan coins buy over peer-to-peer shops that remain undetected.

Magoon to introduce a corresponding guideline for regulation and facilitating crypto -related transactions, and pointed out that the regional rival, India, has already taken steps to implement some rules for the sector. His association recommends the adoption of a legal framework that is at the guidelines of international organizations such as Z Fatf and . .

Do you believe that Pakistaner will continue to invest in cryptocurrencies despite the restrictions of the authorities in Islamabad? Let us know in the comment area below.

lubomir Taskensev

lubomir Taskersev is a technically experienced journalist from Eastern Europe, who likes Hitchens' quote: "To be a writer is what I am and not what I do." In addition to crypto, blockchain and fintech, international politics and business are two other sources of inspiration.

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