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Business & Finance

Crypocurrency Ban Case: SHC issues show-cause notice to Deputy Director FIA Cyber Crime

  • The court expressed frustration with the FIA and Assistant Attorney General Gulfraz Khattak for not submitting a reply.
17 Dec 2020

The Sindh High Court (SHC) has issued a show-cause notice to Deputy Director FIA Cyber Crime for non-appearance in court in the digital cryptocurrency ban case.

The Sindh High Court heard a petition seeking a ban on digital cryptocurrency.

Despite the court order, the federal government and the Federal Investigation Agency (FIA) failed to submit a reply. The court expressed frustration with the FIA and Assistant Attorney General Gulfraz Khattak for not submitting a reply.

The court summoned the finance secretary in person. SHC issued a show-cause notice to Deputy Director FIA Cyber Crime for non-appearance.

The court in its remarks barred authorities to take action against digital currency traders. SHC remarked that the FIA doesn't do its job and not let people conduct their business.

The court asked the petitioner Waqar Zaka to inform the court if the FIA has harassed him.

The court gave the federal government and the FIA a deadline to submit a written response.

During the hearing, the court asked the SBP lawyer, "Do you know how much the virtual currency had increased?" Why is the FIA blocking people's business? The SBP lawyer told the court that the bank did not direct the FIA to take action against anyone, nor did they ban cryptocurrency in Pakistan.

Meanwhile, petitioner Waqar Zaka was of the view that the FIA takes action against the people on its own, the SBP is not opening a bitcoin account.