The Federal Investigation Agency’s (FIA) cybercrime circle had charged Zaka earlier this year in January for allegedly keeping two accounts for the trading of cryptocurrencies/virtual assets. On Thursday, Judicial Magistrate (East) Mukesh Kumar heard the case against Zaka, who is driving a drive to get virtual currencies declared legal cash in Pakistan. The magistrate ordered the FIA prosecutor to give a report on the warrant’s execution on the following occasion, and delayed the hearing until January 5, 2023. “During the investigation, Bitcoin/cryptocurrencies-related tweets were discovered on his Twitter account, and the accused also promotes cryptocurrency such as Bitcoin,” it added. The agency maintained that after reviewing the report, secured documents such as copies of bank records and institutions, and oral evidence, it had been substantiated that the accused had fraudulently and dishonestly committed the offences of virtual asset/cryptocurrency trading and facilitating the use of virtual assets for transferring funds and generating profits in violation of banking rules and regulations and prescribed law of the country. It went on to say that after the investigation was launched and the accused was summoned, he began spreading false propaganda against state institutions and was caught engaging in illegal activities on social media by posting objectionable material/remarks about the institutions, threatening government officials, and inciting the public against the state.
