Pakistan has announced a new regulatory framework for cryptocurrencies, designed to bolster anti-money laundering (AML) measures in line with Financial Action Task Force (FATF) standards. The framework requires virtual asset service providers (VASPs) to keep detailed records of transactions over 1 million rupees and report them to a centralized database. This initiative aims to enhance transparency and monitor suspicious activities effectively.
The regulations, set to be implemented by the end of the year, also mandate the use of blockchain analytics tools to identify suspicious transfer patterns. Additionally, a dedicated unit will be established for real-time monitoring of blockchain transactions, further strengthening the country's financial security infrastructure.
Pakistan Unveils FATF-Aligned Crypto Regulations to Curb Money Laundering
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