Pakistan Launches Crypto Investigation Unit to Fight Money Laundering
Pakistan Launches Crypto Investigation Unit to Fight Money Laundering
Pakistan has launched a dedicated unit to probe the use of cryptocurrencies in money laundering. The Financial Monitoring Unit (FMU) will oversee crypto-related investigations and report any suspicious activities to the authorities. The initiative aims to curb financial crimes and enhance the country’s ability to comply with international standards set by the Financial Action Task Force (FATF).
The establishment of the unit comes amid a growing crypto market in Pakistan, where digital currencies are being increasingly used for transactions. The Pakistani government has shown interest in regulating the cryptocurrency sector, ensuring that these digital assets do not contribute to unlawful activities.
This article has been published in decrypt.co via Yahoo News.
Pakistan Launches Crypto Investigation Unit to Fight Money Laundering
Islamabad is building the enforcement side of its crypto push, standing up a unit to police money laundering even as it licenses exchanges.
finance.yahoo.com
