ISLAMABAD: The Customs Air Freight Unit (AFU) has detained one Antminer Bitmain L3+ server having 1000 power imported from China as its import is prohibited as per SBP’s banking policy and regulations.
Sources told Customs Today that consignment arrived on 10th March 2018 whereas the total value of consignment was declared as $1714.96. The subject item was imported first time, therefore a letter was sent to the Engineering Development Board and National Institute of Electronics in order to ascertain its proper functionality.
The sources stated that through proper deliberations it was decided that the subject import is prohibited as per State Bank’s banking policy and regulations department vide BPRD No.03 of 2018 which said that “Virtual Currencies (VCs) like Bitcoin, Litecoin, Pakcoin, OneCoin, Das Coin, Pay Diamond etc. or Initial Coin Offerings (ICO) tokens are not legal tender, issued or guaranteed by the Government of Pakistan.
The SBP has not authorized or licensed any individual or entity for the issuance, sale, purchase, exchange or investment in any such Virtual Currencies/Coins/Tokens in Pakistan.
Sources said that it is clearly prohibited while in view of the foregoing, all Banks/DFIs/Microfinance Banks and Payment System Operators (PSOs)/Payment Service Providers (PSPs) are advised to refrain from processing, using, trading, holding, transferring value, promoting and investing in Virtual Currencies/Tokens. Further, banks/DFIs/Microfinance Banks and PSOs/PSPs will not facilitate their customers/account holders to transact in VCs/ICO Tokens. Any transaction in this regard shall immediately be reported to Financial Monitoring Unit (FMU) as a suspicious transaction, keeping in view the above-said notification the consignment was detained.
It is pertinent to mention here that the importer approached the Ministry of Commerce for the release or return of the consignment through his application; moreover the importer also filed a complaint at Federal Tax Ombudsman (FTO) for which the FTO has now asked the department to get clarification from the Ministry of Commerce regarding the import of the subject equipment.
