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FIA springs into action against cryptocurrencies, one held

03:22 PM | 10 Feb, 2018
FIA springs into action against cryptocurrencies, one held
LAHORE – Federal Investigation Agency has launched operations against the people dealing in the cryptocurrencies (Bitcoin and Onecoin).

According to TechJuice, FIA has rounded up a suspect involved in the illegal business and started the investigation to trace the others. The police also recovered a mobile phone and laptop from the possession of the accused.

The State Bank of Pakistan (SBP) has reportedly stated that both the digital currencies do not come under the tax net, therefore, should be considered “illegal”.

It’s not the first time, FIA took such action against Bitcoin and OneCoin. The agency took similar steps for the same digital currencies, back in August 2017. However, no one was detained then.

Cryptocurrency has always been in hot waters as it could be used for money laundering, tax evasion, and various other criminal activities.

Another reason for FIA’s current action, as the original news infers, could be the cryptocurrencies’ involvement in the notorious Dark Web. Also known as the deep web, it is the center of the world’s darkest illegal activities involving pedophiles, murderers and terrorists.

Earlier this week, Bitcoin dropped below $6500. On the other hand, OneCoin is really a Ponzi Scheme, Bulgaria also joined ‘international operation’ against OneCoin, past month.

The writer is a member of the staff. He can be accessed on Twitter @iamnozair

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 25 Feb 2024 forex rates

Pakistani rupee remains stable against US dollar in the open market on February 25, 2024 (Sunday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 25 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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