According to Bol News, on December 6, 2019, Waqar Zaka filed a case to legalize cryptocurrency in Pakistan. He said that it should be legal in Pakistan because without it the country could not progress for long. you may know that It has been banned since April 4, 2018.
Waqar Zaka even told the government of Pakistan that if cryptocurrency was legalized in Pakistan, all loans of Pakistan could be easily repaid. If the government gives a chance to Waqar Zaka, he can easily legalize crypto and pay off all debts to Pakistan. Waqar says that crypto has been declared illegal in Pakistan for no reason. He requests to PM Imran khan that Cryptocurrency should be legalized in Pakistan. But so far the government has not responded.
Zaka highlighted why Crypto must be legalized in Pakistan, in a hearing presided over by a two-member bench of the court headed by Justice “KK Agha” & “Mrs. Kausar Sultana”. He says that Pakistan is at the risk of being blacklisted by major marketplaces of digital currencies, as major companies are now backing out from doing business.
Many countries around the world are using this currency and this currency is spreading very fast all over the world. If Pakistan continues to ban them, Pakistan will suffer huge losses in a few years.
Why Cryptocurrency is so Important in Pakistan?
When Waqar Zaka talked to the government of Pakistan about crypto in 2019, a bitcoin was worth about Rs. 1,112,131 Pakistani rupees, which was a matter of great fortune. But now, a year later, the value of the bitcoin began to rise sharply and on December 31, 2020, its value was 4,621,198.24 Pakistani Rupees.
This was a good time for us if we had obeyed Waqar Zaka at that time and if the government had acted on it then maybe today all the debt of Pakistan would have been paid off. at this time there are many people who have earned a lot of money by following Waqar Zaka.
The FIA arrests people working on crypto in Pakistan, which is very unfair. On December 17, 2020, when the FIA did not respond to the court, the court stopped arresting people working on digital cryptocurrency and also said that if anyone from the FIA arrests any person who works on cryptocurrency then must tell them. Because Pakistan already has lost a huge advantage. We hope that very soon cryptocurrency will unban and people start their online business. We say thanks to Waqar Zaka for this effort.
Here are some Tweets.
We appreciate the hard work of Waqar Zaka and we hope that this currency will soon be available in Pakistan.