TechBoiler
TRENDING
  • Microsoft Copilot
  • Elon Musk
  • Moto Razr 40
No Result
View All Result
  • HOME
  • News
  • SMARTPHONES
  • AI
  • GAMING
  • ENTERTAINMENT
  • Contact
  • HOME
  • News
  • SMARTPHONES
  • AI
  • GAMING
  • ENTERTAINMENT
  • Contact
No Result
View All Result
No Result
View All Result
Home BoilerWeekly

Bank Accounts Seized By FIA For Dealing In Cryptocurrencies!

by TechBoiler Staff
December 23, 2021
in BoilerWeekly, Cryptocurrency
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter

Bank accounts of 1064 individuals involved in trading cryptocurrencies have been seized by FIA. According to sources, the regular inquiry had been registered under RE-955/2021 on the 27th of September, 2021.

The inquiry was registered against the 1064 accounts that were involved in 2923 crypto transactions. These transactions were through different online exchanges, including Binance, Coinmama, and Coinbase. The transactions were worth an insane Rs. 51 million.

Credit Cards And Bank Accounts Suspended

A request by Cyber Crime Reporting Centre (CCRC) in Islamabad, a month ago, was the basis of the seizure of bank accounts. Even credit cards that were found to be involved in trading cryptocurrencies were blocked by their banks. Furthermore, bank accounts of individuals using Binance P2P to buy or sell crypto were also seized.

Federation of Pakistan Chambers of Commerce and Industry Report

The FPCCI has revealed that Pakistanis possessed cryptocurrency worth around $20 billion. Furthermore, the FPCCI president said that the valuation of the digital currency held by Pakistanis is based on the chamber’s research report.

Moreover, he also urged the government of Pakistan to introduce a policy to facilitate crypto transactions. The president also mentioned how India has introduced a policy in this regard.

He bashed the government on how the benefits of reduction of oil prices in the international markets are not being transferred to people. In addition, a report from Chainalysis states that the market of cryptocurrencies grew by 711% in Pakistan in the past year.

What Does The Law State?

According to State Bank of Pakistan’s Circular No. 3 of the Banking Policy and Regulation Department (BPRD) dated 6 April 2018, the sale and purchase of virtual assets are prohibited. FIA had been investigating these transactions for a while. Their actions reflect their strict policies around crypto trading.

According to the recent instances, anyone who trades crypto through Pakistani banks or cards is on the hit list for now. Their account may get suspended like a lot of others for an indefinite period.

 

ShareTweetShareShareSendShare
Previous Post

Realme GT 2 Pro Leaked In Promotional Images

Next Post

Christmas Gifts For A Tech-Savvy – 2021 Amazon Edition

TechBoiler Staff

TechBoiler Staff

Related Posts

Pakistan Bans Cryptocurrency
Cryptocurrency

“Cryptocurrency Will Never Be Legalised In Pakistan”

May 17, 2023
Cryptocurrency

Dogecoin’s Dog Becomes Twitter’s Logo, what is going on?

April 5, 2023
SadaPay Debit Card
BoilerWeekly

SadaPay Debit Card Can’t Be Ordered For Free Now!

March 29, 2023
TECNO Camon 19 Neo
BoilerWeekly

TECNO Camon 19 Series To Launch In Mid-August In Pakistan

August 6, 2022
TECNO Camon 19 Neo
BoilerWeekly

Tecno Camon 19 Series May Get Delayed In Pakistan!

July 31, 2022
Crypto Payments Are Acceptable in Foreign Trade, Russia’s Financial Watchdog Says
Cryptocurrency

Crypto Payments are Accepted in Russia’ Foreign Trade

July 11, 2022
Next Post
Christmas Gifts For A Tech-Savvy - 2021 Amazon Edition

Christmas Gifts For A Tech-Savvy - 2021 Amazon Edition

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

new york mining farm

New York Strictly Regulates Cryptocurrency Mining

June 10, 2022
poco-x3-unboxing

POCO X3 Unboxing Shows The Design In Its Full Glory

September 3, 2020
Exynos 9855 Tensor SoC

Google Tensor SoC might be a rebranded Exynos 9855 chipset

August 7, 2021
Apple Watch Series 8

Apple Watch Series 8, SE 2 Launched With New Health & Safety Features!

September 8, 2022

iQOO 9 & 9 Pro Made Official!

January 5, 2022

Grab these free games on Epic Games Store before time runs out

May 6, 2023
TechBoiler

© 2069 TechBoilers.com

TechBoiler - The #1 Source for Tech News

  • About
  • Contact Us
  • Cookies Policy
  • Privacy Policy
  • DMCA Policy

Follow Us

No Result
View All Result
  • HOME
  • News
  • SMARTPHONES
  • AI
  • GAMING
  • ENTERTAINMENT
  • Contact

© 2069 TechBoilers.com