The image of this example shows the represented by the PC Mother Board of Rip, Bitcoin, Ethereum and Latocaine Virtual currencies. - Reuters/file
The image of this example shows the represented by the PC Mother Board of Rip, Bitcoin, Ethereum and Latocaine Virtual currencies. – Reuters/file
  • PML -N Senator Afnanullah Tables Virtual Assets Bill 2025.
  • Bill Virtual seeks to regularly and formally manage the assets sector.
  • The purpose is to set up a regulatory framework for the digital asset market.

Among the growing fraud and criminal cases related to crypto currencies in the country, the government has begun reviewing suggestions for introducing cryptocurrency and blockchain technology rules, Information Notified on Monday.

With the possibility of introducing a law soon, officials have said that the government is not only reviewing the proposals for cryptocurrency and blockchain, but also considering the introduction of Pakistani digital currency to strengthen the Pakistani rupee. Is

A proposal is being considered for the introduction of Pakistani rupee -backed digital currency, which will be legalized under the State Bank of Pakistan (SBP) rules.

This development has come when Dr Afnanullah Khan, Senator of the ruling Pakistan Muslim League-Nawaz (PML-N), introduced the virtual assets bill 2025-aimed at a rapidly growing digital asset for the market. Regular framework is to be established, including cryptocurrency. Blockchain Technologies in the country.

The bill seeks to regulate and formally manage the virtual assets sector in Pakistan and regularly manage it to ensure that it operates within the legal framework.

The purpose of this bill is to solve important issues such as security, fraud and market stability. The proposed legislation has come at a time when digital assets are gaining global popularity, and the country is trying to be integrating international standards to protect the interests of investors and consumers.

The country’s economic center, Karachi, recently saw a shocking incident where private people and policemen allegedly supported the short -term kidnapping.

The victim, Ar -Salam Malik, who was a trader associated with cryptocurrency, was abducted, and 340,000 USDT (a cryptocurrency) was transferred from his account to the culprits.

When this development emerges in the media, it spreads like wildfire, especially in the country, looking at the growing interest in digital currencies. Just as in other parts of the world, thousands or even millions of Pakistanis are investing in cryptocurrency and are showing interest in the digital currency market.

However, the incident has raised the concerns of those already frightened about the lack of clear government policy on cryptocurrency. Regarding the absence of a government’s decision whether digital currency is legal or illegal, it has also left investors uncertain.

This ambiguity has not only paved the way for various types of fraud but also discouraged the affected people from filing complaints due to fear and confidence.

The recent short -term kidnapping case has increased the fear of cryptocurrency traders and investors. In addition to the risk of scams, they now face a dangerous possibility of kidnapping and looting their digital assets.

The regulatory vacuum has enabled the promotion of fake activities, and some people within the institutions take advantage of the situation to exploit uncertain citizens.

Although there have been reports of fraudulent fraud cases in the past, the incident has come to the forefront of its kind where police personnel allegedly act on digital robbery through a short -term kidnapping in partnership with private persons Imported.

Experts emphasize that if the government is to legalize cryptocurrency, Pakistan can align itself with global trends, addressing domestic concerns.

Identifying and organizing cryptocurrency firms will not only ensure traceability but will also reduce the spread of fraud.

Since the height of crypto around 2015-16, about two dozen cases have been registered across the country related to digital currency crime. Almost half of them was filed in the Federal Investigation Agency (FIAK) Cyber ​​Crime Circle in Karachi.

Nadir Khan, a journalist who covers such matters, said the main problem was in the absence of a clear policy on the government on cryptocurrency policy.

“Whenever the courts inquire about the Crypto -related cases, the government’s position remains vague, and saying that they are still considering whether officially declared illegal or legal cryptocurrency. Whether or not its status is formally determined, it is a brown area, which is effectively considered illegal.

He added that the lack of clear policy by the government has created an environment where fraud is high, and many individuals and companies working at a cryptocurrency in Pakistan are forced to do so carefully. Yes.

Khan explained, “All these companies are not fake – many are legitimate – but they too are forced to work under the radar because of the absence of proper regulation.”

“These companies have not been approved by the Pakistan Telecommunications Authority (PTA) nor Pakistan is licensed by the Software Export Board, nor are they monitored by any SBP team. They often use irreparable IPs, which makes it almost impossible to detect them.

He said that if cryptocurrency was legalized in Pakistan, the entire ecosystem could be made regular, which shows it and the spread of fraud can be significantly reduced.

A remarkable example of the results of the lack of regulation is a scam of 2020-2021 binns, in which fake companies that have been binned have scamped by Rs 2550 billion.

To date, the real culprits are largely left.

Globally, Bitcoin’s rise during the first presidency of US President Donald Trump in the Cryptoconnery Market, a slowdown in former US President Joe Biden’s era, and the expected restoration with Trump’s return. This trend indicates continuous development and adoption of digital currencies around the world.

Cryptocurrency offers a form of digital currency that can be withdrawn at any time. However, the biggest problem in Pakistan is a lack of identity for companies, which consumers are fraudulent.

Cryptocurrency is gaining traction in Pakistan, in which prominent figures like Waqar Zaka and Azzalan Malik are considered as leaders in the field.

Anti -Volunteer Crime Cell (AVCC) police, which is handling the country’s abduction case, arrested eight suspects, including two policemen, in connection with the matter and almost Approximately a Mercedes car price 12 million The rupee was recovered, which is worth about Rs 7 million. Rs 900,000 prize bonds from their possession.

Talk to InformationMalik shared insights in the recent case of cryptocurrency theft after the businessman’s short -term kidnapping. He said that most of the key suspects were arrested, yet the stolen cryptocurrency was not recovered.

“Just as a bank transfer from a bank can be changed, so can the cryptocurrency transaction be changed. It is not as difficult as it looks. More than 70 percent of the money that was stolen. It is still a technical process. Yes.

The country further highlighted that when the cryptocurrency trade has been going on for years, the real increase in interest in 2021 began, as digital currencies gained global fame.

“The absence of a definite regulatory framework not only causes confusion but also allows the room to flourish for criminal activities,” he said.

Expressing regret that progress in the case of recovery is limited only to the fact that what the police initially shared with the media confirmed that there was no further recovery beyond the location.

Experts, including the country, agree that unless the government clarifies its stance on cryptocurrency, crimes related to fake activities and digital currency will continue to increase in Pakistan.

They also say that scams and crimes are found in software houses, IT -related businesses, call centers, online gambling, or digital currency.

The reason for this is that these activities are either illegal or their status is not clear, which makes it easier to blackmail the victims. Many victims are reluctant to file their cases because they fear that they are involved in legal matters. Even when an affected person comes forward and files a case, they often retaliate or handle the matter privately to avoid further complications.

This is the reason why the police and special units take advantage of the situation, and target people to earn a large amount of money in a short period of time with the least effort and low risk.

AVCCSP Anil Haider said that since it was kidnapped in the ransom case, the AVCC was playing its role and successfully resolved the matter in a timely manner. He also said that the culprits were arrested.

On the other hand, SBP’s position on cryptocurrency has changed. The Central Bank issued a circular under which all financial institutions and operators of the payment system were advised to refrain from processing, use, trade, conduct, value transfer, promotion and investment in crypto currencies.

Further, the SBP warned the general public about the risks associated with crypto currencies affiliated with a public consultative and the absence of legal protection or facilities in case of any damage.





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