FATF Did Not Require Pakistan to Ban Crypto to Stay Off Its 'Grey List'

FATF Did Not Require Pakistan to Ban Crypto to Stay Off Its ‘Grey List’


The Financial Action Task Force (FATF) does “not require countries to indiscriminately ban virtual assets and virtual asset service providers,” it told CoinDesk in an email after Pakistan’s finance minister reportedly said the global money laundering watchdog had set such a condition for the South Asian nation.

On May 17, one local news outlet reported that the country’s Minister of State for Finance and Revenue Aisha Ghaus Pasha had said the FATF set a condition that cryptocurrency cannot be legalized in Pakistan to keep the nation off its “grey list” of nations under increased monitoring. Another report said Pakistan’s anti-crypto stance is because it goes against the conditions set by the FATF.

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