Cryptocurrency Ban In Pakistan
Greerings everyone! I hope everyone will be well. Today I am going to share a news about cryptocurrency regulation in my country Pakistan.
As we know that cryptocurrency is. Digital asset and some countries has legalised the cryptocurrency. And thete are also some cases in which cryptocurrency is not a legal asset. And sone counteies have already banned cryptocurrency as an illegal entity because they consider that it is a high risk for everyone and people are loosing their hardky earnd money in cryptocurrency.
Similarly, I belong to Pakistan and if I talk about the regulation of cryptocurrency in my country, the higher authorities of my country were talking about the ban of cryptocurrency in the country because of its illegal use. So after the discussion they have made and saved their decision of banning cryptocurrencies in the whole country. And higher authorities also mentioned that cryptocurrencies will never become legal within the country.
Actually the people of my country has suffered a lot because of the cryptocurrencies. They have invested a lot of hard earnd money in the crypto and they have lost the value of their money. On the other hand some fake applications have also sucked a lot of money in the form of cryptocurrencies by offering profit on investments. So these are the main reasons for the ban of the cryptocurrency within the whole country.
Government of the Pakistan has said thar they will discontinue and ban the crypto websites from the internet in the country to prevent their people from being involved in the cryptocurrency. It is really a bad news for those who are earning their livelihood from from the crypto business. But somewhere it is beneficial as well. Let's see if in future any positivity comes related to the cryptocurrencies legality in my country.
So ot is all about the ban of the cryptocurrencies in my country.
So is it illegal for you to blog on Hive and earn rewards now? haha
Look, nobody has lost any money if they purchased a good project and didn't sell yet. For example, consider if you had purchased Bitcoin at the top of the market in 2014, when 1 BTC was worth $1200 USD. I'm sure in 2015 a lot of people thought they had "lost money" when the value of BTC dropped to $300. But if they didn't sell, their BTC is now worth $27,000. Zoom out!
I read somewhere the Pakistan is one of the countries with the highest adoption rate of crypto. The government of Pakistan may have banned crypto, but how will they actually enforce this new law on the people? Some small businesses and individuals will continue to use crypto despite the ban, and the movement will continue to grow regardless.
Always great to hear from people "on the ground" in other countries 👍
Haha you are right people will still continue to explore cryptocurrency despite the government ban by changing their server to access the crypto platforms.
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Nice to hear 🙉
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