ISLAMABAD: The Federal Investigation Agency (FIA) has established a dedicated Cryptocurrency Investigation Unit on the special instructions of the FIA Director General, marking another step in Pakistan’s efforts to strengthen oversight of the country’s rapidly expanding digital asset sector.
According to FIA officials, the newly formed unit will investigate cases involving money laundering, terrorism financing, and other financial crimes carried out through cryptocurrencies and virtual assets. The unit will also monitor suspicious financial transactions involving digital currencies to detect and prevent illegal activities.
Officials said the specialised team will investigate cybercrime, cryptocurrency-related financial fraud, and other offences linked to digital assets. Investigations will be conducted using modern forensic tools and in accordance with international standards and best practices.
The FIA said the new unit will introduce advanced measures to prevent the misuse of cryptocurrencies while ensuring effective legal action against individuals and organisations involved in illegal digital asset activities. Authorities believe the dedicated investigation unit will significantly enhance Pakistan’s ability to combat financial crimes in the evolving digital economy.
Pakistan has emerged as one of the world’s leading cryptocurrency markets in terms of retail adoption, prompting the government to accelerate efforts to regulate the sector while encouraging innovation.
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In recent months, the government has moved to formalise the cryptocurrency industry by exploring tokenised state assets and advancing a licensing framework for cryptocurrency exchanges, with licences expected to be issued in the coming months.
Pakistan has also used digital assets to strengthen its economic engagement with the United States. Earlier, Islamabad announced a cooperation agreement with an affiliate of World Liberty Financial, the cryptocurrency venture associated with US President Donald Trump’s family, to explore the use of its USD1 stablecoin for cross-border payments as part of its broader “crypto diplomacy” initiative.
To strengthen regulatory oversight, the government recently established the Pakistan Virtual Assets Regulatory Authority (PVARA) as the national body responsible for licensing, supervising, and regulating virtual assets and cryptocurrency businesses across the country.
Bilal Bin Saqib has been appointed as the Chairman of PVARA and is overseeing the development of Pakistan’s virtual asset regulatory framework.
