KARACHI: The Sindh High Court (SHC) asked the Finance Minister and the National Bank of Pakistan for a response on Friday regarding the FIA’s action against cryptocurrencies, ARY News reported.
SHC has heard the FIA’s Cybercrime Wing petition against cryptocurrency trading. An advocate for Rizwan Ali Kadri said legal action could be taken against cryptocurrencies in Pakistan if there is no law.
He added that the FIA has taken action, although petitions regarding cryptocurrency trading are still being heard.
After hearing initial arguments from the applicant’s attorneys, the SHC bench sought responses from the Finance Minister, the National Bank of Pakistan, the SECP, the DG FIA and others.
FIA Cybercrime Wing IO Farhan Ali Bilal was also summoned on 21st February.
Read more: SHC Seeks Recommendation on Legal Status of Cryptocurrencies
Earlier, the bench of the Sindh High Court formed a High Powers Commission to hear the ban on cryptocurrencies and submit a report on the possible regulation of blockchain-protected transactions.
The District Court summoned the Deputy Governor of the Central Bank, the Chairman of the Securities and Exchange Commission of Pakistan, the Secretary of Finance, and the Director of the Federal Bureau of Investigation in their personal capacities to form a team and submit our recommendations within three months. summarized.