KARACHI: TV show host and social worker Waqar Zaka has expressed delighted that his efforts to legalise cryptocurrency in the country are bearing fruits as the Khyber Pakhtunkwa passed a draft resolution to legalise the virtual currency.
Advisor to Chief Minister Khyber Pakhtunkhwa on Science and Technology and Information Technology Zia Ullah Bangash said the provincial assembly has passed a resolution regarding cryptocurrency. He said the federal government should also take steps legalise cryptocurrency and cryptomining in the country.
Waqar Zaka was delighted over the news and said that his visit to Khyber Pakhtukhwa has brought fruitful results. He said that he will be visiting Punjab and Balochistan soon to get bills passed for cryptocurrency.
Zaka has vowed to contest elections and said his Technology Movement Pakistan is producing results even before the elections. He claimed there is only one team working for legalizing cryptocurrency in the Pakistan and they have been fighting in court. He denied claims that he is being funded or receiving any help and that they are the only teamwork for legalizing cryptocurrency in the country.
Read more: Waqar Zaka hits back at Jannat Mirza for calling him a hypocrite
there is only one team working for legalising crypto in Pakistan , fighting in court , anyone claiming they funded or helped me , it’s a complete lie , check the team section , that’s the main team which work for crypto in PAK no one else https://t.co/dFb6EZgyPP
— Waqar Zaka (@ZakaWaqar) December 2, 2020
It must be noted that last month the State Bank of Pakistan told Sindh High Court that it has not imposed a ban on cryptocurrency in Pakistan.
Waqar Zaka, who was the petitioner in the case said it was being misreported by the media that cryptocurrency has been banned in Pakistan. He argued the FIA has been arresting people for possessing bitcoins and should be stopped as parliament has not passed any law to ban it.
A lawyer for the central bank had said that no one can be stopped from starting new businesses but they will not provide any guarantee to those investing in cryptocurrency
On April 7, 2018 the State Bank had issued a warning against the use of cryptocurrency in Pakistan. It had prohibited banks from processing, using, trading, holding, transferring value, promoting and investing in virtual currencies and tokens.
The warning was issued due to the tremendous volatility of virtual currency exchanges which sparked concerns that they can be used to launder money.
One province done , three more to go , KPK visit brought fruitful results. Now I will be going to Punjab , Baluchistan to get these bills passed for crypto , Technology Movement Pakistan producing results even before getting into elections https://t.co/SwWo6n7ife
— Waqar Zaka (@ZakaWaqar) December 2, 2020
