The State Bank of Pakistan (SBP) advised the general public in a statement on its website that “Virtual Currencies/Coins/Tokens (like Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin, Pay Diamond etc.) are neither recognized as a Legal Tender nor has SBP authorized or licensed any individual or entity for the issuance, sale, purchase, exchange or investment in any such Virtual Currencies/Coins/Tokens in Pakistan”. SBP said anyone using virtual currencies to transfer funds outside Pakistan could be prosecuted.