be defined into an asset class whereby Bitcoin has been declared as money or some form of an asset as per some legal definition in some law in Pakistan. State Bank of Pakistan (SBP) Website has zero references to Bitcoin. Cyber Stalking Section.24, spoofing Section.26, the non-cognizable nature of these critical offences which pertains to the cyber security of the country is impeding the effective investigation and successful prosecution, maintained FIA. Because the law never defines something known as a tennis ball and hence, you cannot be breaking a law that does not exist. Pakistan Remittance Initiative (PRI) Website has zero references to Bitcoin. It must be noted that Bitcoin trading continues in Pakistan, albeit in a peer-to-peer fashion via decentralized exchanges. Still, there seems to be some Bitcoin trading activity going, judging. Its not printed like regular bank notes since it is a digital currency, created and held electronically. Please seek professional legal advice from bona fide lawyers and not ambulance chasers!
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Investigation in Cyber Crimes is an expensive process, and after setting the state machinery into motion, entering to compromise at any stage would result in wastage of state resources. As of the writing of this article, 29th of May, 2017, Ive searched through the following websites, trying to find any circular /or notification, gazette, SRO, press release, etc. Also read, pakistan Will Not Legalize BitCoins or Crypto-Currencies: State Bank. In simple English, if there is a law that says you cannot bounce a basketball indoors, thats cool! FIA said that offences under peca-2016 other than cyber terrorism Section.10, offence against modesty of natural person Section.21 and child pornography Section.22 are non-cognizable, bailable and compoundable.