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| India-Pakistan |
| ''Crypto used for ransom payments in Pakistan'' |
| 2025-09-12 |
| [GEO.TV] A Senate committee was told on Wednesday that cryptocurrency is increasingly being used for ransom payments in Pakistain, with kidnappers no longer demanding cash. Senator Mohsin Aziz revealed this during a meeting of the Senate Standing Committee on Finance, chaired by Senator Saleem Mandviwalla, which reviewed the ''Virtual Asset Bill 2025.'' Deputy Governor of the State Bank informed the panel that cryptocurrency is not illegal but exists in a ''grey'' area. Mandviwalla questioned how crypto dealings could be considered grey when they were conducted through hawala and hundi, which are illegal. He also noted that Paks ranked eighth globally in crypto investment, underscoring the bill's importance. Finance Secretary Imdadullah Bosal said there had been no regulation of virtual assets so far, and the government aimed to bring transparency through this bill. |
| Posted by:Fred |