Citing Blockchainreporter, Pakistan is establishing a new regulatory framework for cryptocurrencies to strengthen anti-money laundering (AML) compliance and security. The framework, aligned with Financial Action Task Force (FATF) requirements, mandates virtual asset service providers (VASPs) to maintain detailed records for transactions exceeding 1 million rupees and submit them to a centralized database. The government aims to enhance transparency and track suspicious activities, with implementation expected by the end of this year. The new rules also include the use of blockchain analytics tools to detect suspicious transfer patterns and establish a dedicated unit for real-time blockchain transaction monitoring.
Pakistan Introduces FATF-Aligned Crypto Regulatory Framework to Combat Money Laundering
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