Are cryptocurrencies banned in Pakistan

16:12 - 14.01.2022

January 14, Fineko/ The use of cryptocurrencies in Pakistan may be prohibited.

ABC.AZ reports that in this regard, the Central Bank appealed to the government.

The country's main bank in its appeal recommended banning the use of cryptocurrencies and all activities related to it on the territory of Pakistan.

The statement says that the risks associated with the use of cryptocurrency outweigh its advantages, and this may lead to the exhaustion of Pakistan's foreign exchange reserves due to uncontrolled transfers outside the country.

Last week, the Federal Investigation Agency of Pakistan revealed fraudulent transactions using cryptocurrencies for more than $100 million.