Publication Date: Tue, June 20, 2017
It has come to the notice of Securities and Exchange Commission of Pakistan (SECP) that some persons, companies or entities are offering investment in cryptocurrencies such as Bitcoin, Swisscoin, OneCoin and such other virtual or digital currencies. The public is hereby advised to exercise extreme caution with respect to digital (cryptocurrencies) as a vehicle of investments. Please be informed that none of the persons, companies or entities promoting cryptocurrencies has been recognized or authorized by SECP or by other regulatory agencies in Pakistan to receive deposits from the public or to provide any investment or other financial services in or from Pakistan. The public should also be aware that any investment opportunities promoted by these persons, companies or entities are risky or can be a fraudulent pyramid scheme. There is no protection available to investors in these virtual currencies from financial losses if the virtual currencies fail or the companies promoting them go out of business.