Crypto to be legalized in Pakistan if the government fails to reply to Waqar Zaka’s petition

By TechJuice on
November 20, 2020
  -   Like us now!  

Waqar Zaka has been in the news recently for advocating the need for Pakistan’s government to legalize the use of cryptocurrencies in the country. He has mentioned that the date of the hearing remains 17 December 2020.

New facts have come to light according to Dekhlo. The Sindh High Court has replied to the petition (C.P. 7146/2019) filed by Waqar Zaka saying that the government, Finance Minister, and the FIA Cyber Crime wing must reply to the petition by 17 December 2020. If the government fails to do so, Crypto will be made legal in the country.

Zaka highlighted why Crypto must be legalized in Pakistan in a hearing presided over by a 2 member bench of the court headed by Justice KK Agha & Mrs. Kausar Sultana.

Waqar mentioned that the FIA Cyber Crime wing allegedly illegally arrests Crypto miners keeping their Bitcoins worth millions, filing an FIR having that has no sections for Crypto but just based on false claims that State Bank of Pakistan (SBP) has declared crypto illegal, while State Bank’s advocate stated in the court that SBP cannot ban crypto mining as parliament has not given such powers.

He added that Pakistan is at risk of being blacklisted by major marketplaces of digital currencies, as major companies are now backing out from doing business.

Cryptocurrencies are being adopted all over the world as the next step in the financial industry removing the restrictions of borders and creating a free-flowing currency but Pakistan’s stance has been to outright ban it. As the digital age progresses, crypto will become an essential part of the finance industry, and adopting it is necessary if Pakistan is to keep up with the world.

Image Source: Bol

Like our stories? Follow our Instagram for pictorial updates.Follow @techjuicepk

Facebook fixes bug that enabled others to snoop on your Messenger calls
Apple iPhone 12 Pro Max breaks records in DisplayMate test


NameDescriptionLink is a peer-to-peer bitcoin exchange, a site where you can list your own bitcoins for sale or buy bitcoins directly from other users.Buy Bitcoins
Coinmama lets you buy bitcoins with your credit card or cash.Buy Bitcoins
With Binance, you can buy and sell Bitcoins and altcoins easily. Get into Cryptocurrency trading on this exchange.Buy Altcoins
Coinbase is the easiest place to buy, use, and accept bitcoin, ethereum, and litecoin.Buy Bitcoins