Pakistan's Federal Investigation Agency Proposes Virtual Asset Regulation for Compliance
JH Kim
Summary
- The Federal Investigation Agency of Pakistan has reportedly proposed a virtual asset regulatory framework to comply with the Financial Action Task Force (FATF) regulations.
- The regulatory proposal aims to comply with global institutions' regulations on terrorist financing, anti-money laundering, and Know Your Customer (KYC).
- FIA Director Sumera Azam explained that the regulatory proposal will balance technological advancement and national security.
The Federal Investigation Agency (FIA) of Pakistan has proposed a virtual asset (cryptocurrency) regulatory framework in compliance with the Financial Action Task Force (FATF) regulations.
According to Cointelegraph, a virtual asset specialized media, on the 11th (local time), this regulatory proposal aims to comply with global institutions' regulations on terrorist financing, anti-money laundering, and Know Your Customer (KYC).
FIA Director Sumera Azam explained that it is a "paradigm shift in the way we view digital finance," and that the regulatory proposal will balance technological advancement with national security.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
