The Central Bank of Pakistan has barred financial institutions and payment providers in any form to cooperate with cryptocurrency companies, including processing, using, trading, saving, transfer of value, promotion and investment in virtual currency.

Also they are forbidden to help customers in carrying out transactions with cryptocurrencies. But in all cases the use of cryptocurrencies, which will become known, the company must inform the Department of financial monitoring of suspicious transactions. The reason for the ban lies in the fact that “virtual currencies such as Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin Pay Diamond etc or ICO-tokens are not legal means of payment, which issues and guarantees the government of Pakistan”.

We will remind that the Reserve Bank of India (RBI) has forbidden banks to carry out operations associated with cryptocurrency trading. Credit institutions of the country should not allow clients to purchase crypto-currencies and provide services to companies involved in trading virtual currencies.