Svmuu News: Pakistan’s Federal Investigation Agency (FIA) has established a cryptocurrency investigation unit at its newly inaugurated National Command and Control Center (NC3) to investigate money laundering and terrorist financing activities conducted via virtual currencies.
Dr. Muhammad Athar Waheed, head of the FIA’s Counter-Terrorism Division, stated that the unit will investigate the criminal use of cryptocurrencies, while the newly established Pakistan Virtual Assets Regulatory Authority (PVARA) is responsible for regulating digital assets. He also urged the National Cybercrime Investigation Bureau and the Anti-Narcotics Force to establish similar units to address the use of cryptocurrencies in cybercrime and drug trafficking.
NC3 integrates the FIA’s financial crime tools onto a single platform, including the Anti-Money Laundering and Virtual Currency Investigation Units, the Interpol Coordination Point, Open-Source Intelligence, Cyber Patrol, and Dark Web Investigation Units. Pakistan had previously lifted an eight-year ban on cryptocurrency banking, established PVARA, and moved forward with licensing cryptocurrency exchanges. (Decrypt)