Pakistan's Federal Investigation Agency (FIA) has set up a dedicated cryptocurrency investigation unit, placing it inside the agency's newly operational National Command and Control Centre (NC3). The unit's focus is money laundering and terrorism financing involving digital assets — not market regulation, which remains with the Pakistan Virtual Assets Regulatory Authority (PVARA).
Inside the new unit
The unit sits within the FIA's Counter-Terrorism Wing. Dr Muhammad Athar Waheed, director of that wing, said the unit investigates how crypto is used in crimes, not how the market is run. He urged the National Cyber Crime Investigation Agency (NCCIA) and the Anti-Narcotics Force (ANF) to set up similar crypto investigation units. The FIA's move comes after Pakistan's Parliament passed the Virtual Assets Act in March 2026, creating a full regulatory framework and establishing PVARA as the sole licensing and oversight body.
Why the shift now
Pakistan has been warming to crypto. The State Bank of Pakistan scrapped a 2018 circular that had blocked regulated entities from handling virtual assets for seven years, easing banking access for crypto firms. The country ranked third in the Chainalysis 2025 Global Crypto Adoption Index, behind only India and the United States. That level of adoption — combined with the new legal framework — likely pushed the FIA to formalise its enforcement capacity.
The religious debate
Not everyone is on board. Religious scholars in Pakistan remain divided on whether cryptocurrency is permissible under Shariah law. That debate hasn't stopped the government from building out both a regulatory and an enforcement apparatus, but it could shape how the public and institutions engage with digital assets going forward.
Global context
The FIA's move mirrors a wider international push against crypto-enabled crime. US authorities have been prosecuting cases involving money laundering and investment scams tied to digital currencies. Pakistan's new unit gives it a dedicated tool to go after similar activity — and Waheed's call for other agencies to follow suggests the government sees crypto crime as a cross-border problem that needs a coordinated response.
What comes next? The unit is operational now, but it's not clear how many cases it's already working or how quickly it will coordinate with PVARA and the State Bank. Waheed's public appeal to the NCCIA and ANF hints that the FIA wants partners — and fast.
