FTAF(Financial Action Task Force) denied requiring countries to ban virtual assets and services despite Pakistan’s Finance Minister’s claims. Minister Aisha Pasha says legalizing cryptocurrency risks the country being ‘Grey listed’ by FTAF and said no to legalizing cryptos in Pakistan. FTAF Grey lists the country due to huge crime and violence, FTAF mandates VAP( a Software Company) to comply with financial institution prevention measures such as diligence, record keeping, and reporting. Crypto providers follow travel rules and share high-value transactions.
