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Pakistan creates crypto unit
Pakistan’s Federal Investigation Agency (FIA) has established a dedicated investigative unit to probe cases involving cybercrime and financial fraud linked to cryptocurrency, with the unit first reported by Dawn news on Tuesday.
“Pakistan’s Federal Investigation Agency (FIA) has created a dedicated unit to investigate money laundering and terrorist financing involving cryptocurrencies, according to a report by Decrypt”
The crypto investigation unit is described as focusing on digital asset use in crimes, while Pakistan’s Virtual Assets Regulatory Authority (PVARA) continues to be responsible for digital asset regulation.
Cointelegraph reported that FIA Counter-Terrorism Wing Director Muhammad Athar Waheed recommended other agencies in Pakistan establish similar units to address crypto-related crime.
The same Cointelegraph report said PVARA chair Bilal Bin Saqib told an event in December 2025 that Pakistan ranked as the world’s third-largest crypto market by retail activity, and it added that former Binance CEO Changpeng Zhao said Pakistan could become a world leader in the industry by 2030.
Cointelegraph also said it reached out to the FIA for comment on the crypto unit but did not receive an immediate response.
NC3 and enforcement focus
ForkLog said the FIA’s new crypto-crime unit is part of the newly formed National Command and Control Center (NC3), and it will focus on violations related to money laundering and terrorist financing.
ForkLog also described NC3 as combining units for combating money laundering and investigating virtual currency transactions, and it said the center includes open-source intelligence services, cyber patrolling, darknet activity investigations, and an Interpol coordination department.
ForkLog reported that Muhammad Athar Waheed explained the new unit would address the potential use of digital assets in crimes, while PVARA would oversee the digital asset market through licensing, regulation, and industry oversight.
The same ForkLog account said Pakistan’s State Bank replaced a 2018 circular in April that prohibited financial institutions from conducting cryptocurrency transactions, allowing banks to open accounts for virtual asset service providers (VASP) licensed by PVARA.
ForkLog added that PVARA is accepting applications for no-objection certificates (NOCs), while the full VASP licensing regime is still being prepared.
Regulation, religious ruling, licenses
ForkLog said authorities are discussing the status of digital assets with religious leaders, and it reported that in June the seminary Jamia Darul Uloom Karachi ruled that cryptocurrency is not considered property under Islamic law and therefore cannot be used as a means of payment.
“Pakistan Establishes Unit to Investigate Cryptocurrency Crimes Pakistan's FIA creates unit for crypto crime investigations”
ForkLog also reported that Bilal Bin Saqib called for a distinction between speculative tokens and backed digital instruments, categorizing fully reserved stablecoins, tokenized gold, and blockchain-recorded Islamic bonds as the latter.
The Reuters-framed Cointelegraph report said PVARA has already approved licenses for major exchanges, including Binance and HTX, as part of the regulator’s July 2025 creation.
Cointelegraph further reported that Bilal Bin Saqib said in December 2025 that Pakistan ranked as the world’s third-largest crypto market by retail activity, and it said Changpeng Zhao told the same event that Pakistan could become a world leader in the industry by 2030.
Together, the accounts portray a split where PVARA handles digital asset regulation while the FIA’s NC3-linked unit targets crypto-related financial crime, with Cointelegraph noting the FIA’s role in enforcement and regulation separation.
