The new FIA unit and PVARA regulatory role reflect a broader government strategy to balance Pakistan’s growing crypto adoption with stronger oversight.
ISLAMABAD: Pakistan’s Federal Investigation Agency (FIA) has established a Cryptocurrency Investigation Unit (CIU) under special instructions from the agency’s director general, aiming to strengthen the country’s ability to combat money laundering, terror financing, and fraud carried out through digital assets amid Pakistan’s rapidly growing crypto market.
The unit will additionally handle cases of cybercrime and financial fraud tied to cryptocurrency, conducting investigations using modern technology in line with international standards.
Pakistan has long ranked among the world’s largest cryptocurrency markets based on retail trading activity. In response to that demand, the government has moved quickly to formalize the sector, exploring tokenized state assets and advancing licenses for crypto currency exchanges expected to be issued in the coming months.
Cryptocurrency has also become part of Pakistan’s diplomatic engagement with Washington. The country has entered into a deal with an affiliate of World Liberty Financial, the crypto venture linked to President Donald Trump’s family, to explore using its dollar pegged stablecoin for cross border payments. Islamabad has described this broader strategy as “crypto diplomacy.”
The Pakistan Virtual Assets Regulatory Authority (PVARA) was established as the country’s national regulatory body responsible for licensing, supervising, and overseeing the virtual asset and cryptocurrency sector. Bilal Bin Saqib was appointed as PVARA’s chairman, tasked with leading the agency’s regulatory efforts.
Together, the new FIA unit and PVARA’s regulatory role reflect a broader government strategy to balance Pakistan’s growing crypto adoption with stronger oversight, aiming to curb illicit use of digital assets while still positioning the country to benefit from continued growth in the sector.