Pakistan’s Federal Investigation Agency (FIA) has set up a specialized team to probe cryptocurrency-related money laundering and terrorism financing cases. This move expands the country's enforcement capabilities within its National Command and Control Centre (NC3).
Focused Investigation Separate from Regulation
The unit's primary mission is to investigate crimes involving digital assets rather than oversee the crypto market. Dr Muhammad Athar Waheed, Director of the FIA Counter-Terrorism Wing, clarified that regulatory powers remain exclusively with the Pakistan Virtual Assets Regulatory Authority (PVARA).
Waheed called on other agencies such as the National Cyber Crime Investigation Agency (NCCIA) and the Anti-Narcotics Force (ANF) to establish similar crypto investigation units, reflecting a broader institutional push within Pakistan.
Globally, authorities have intensified efforts to address crypto-linked offenses. US prosecutors, for instance, recently launched cases involving money laundering and fraudulent investment schemes associated with digital currencies.
Pakistan has been progressing swiftly on digital asset policy. In March 2026, Parliament enacted the Virtual Assets Act, instituting a full framework for the digital finance sector and founding PVARA. Following that, the State Bank of Pakistan removed earlier banking restrictions that had hindered crypto firms’ access to financial services since 2018.
The country also ranks highly in crypto adoption, placing third globally in the Chainalysis 2025 Global Crypto Adoption Index after India and the United States. Despite regulatory advances, domestic religious scholars remain divided over the permissibility of cryptocurrencies under Shariah law. The new unit strengthens Islamabad's enforcement stance amid this ongoing debate.
