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Topic: Is Bitcoins are still illegal in Pakistan? (Read 360 times)

hero member
Activity: 788
Merit: 505
December 25, 2019, 06:37:14 AM
#23
Central bank in Pakistan has issued an advisory regarding cryptocurrency. Check this before you buy and use crypto in Pakistan

Quote
General   Public   is   advised   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. Further,   Banks/   DFIs/ Microfinance  Banks  and  Payment  System  Operators  (PSOs)/  Payment  Service  Providers  (PSPs)  have been advised not to facilitate their customers/account holders to transactin Virtual Currencies/Initial Coin Offerings (ICOs) /Tokensvide BPRD’s Circular No. 03 of 2018.
SBP
full member
Activity: 1638
Merit: 122
December 21, 2019, 01:42:56 AM
#22
Yes many countries still banned bitcoin and Pakistan also in fact i was reading a article about it in this year 2019 January. Lot of popular country still not accept bitcoin legally but after movement i hope their will accept when any good inspection their will follow.

it sad to know that popular countries ban cryptos while not popular countries are accepting it  but its not about the popularity that matter the most right ? but what import is that people that join on crypto still counts towards the adoption   .

 also , you said the article was on 2019 of january ? it was a long time ago and we are now on december so we dont know what if they revise that rule  ? because many countries were also revising thier rules that they applied on crypto  .
member
Activity: 821
Merit: 20
SOL.BIOKRIPT.COM
December 13, 2019, 06:36:48 AM
#21
Yes many countries still banned bitcoin and Pakistan also in fact i was reading a article about it in this year 2019 January. Lot of popular country still not accept bitcoin legally but after movement i hope their will accept when any good inspection their will follow.
full member
Activity: 952
Merit: 104
November 14, 2019, 05:58:45 PM
#20

there has been no change since bitcoin and other virtual currencies were banned last year. https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#South_Asia

it seems like south asia is particularly hostile towards bitcoin. there's an absolute ban in nepal and india is mulling over a similar ban too.


The ban is still on and there is no hope that soon this can be lifted. Pakistan, India and yes Nepal are countries with political leaders who are afraid of what Bitcoin can do to their people and the economy. Unlike other countries that are already open for Bitcoin, they see a different vision and a different way of thinking on cryptocurrency. People can however own Bitcoin discreetly but converting into local cash can be difficult as there is no legal exchanges operating within these countries. I am hoping then that India and Pakistan (two big countries with a lot of potential) will change its direction and will instead introduce a stricter legal treatment of Bitcoin. At the end of the day, people by large will always be following the dictates of their government so we might not see substantive adoption of Bitcoin in these places.







That is truly correct mate   That country you said are hate bitcoin because of the difficult reaaon like india the hate bitcoin because they believe investing in bitcoin is gambling because of nin stable price and too much risky to invest , but hoping times oficial of pakistan givernment open their minds and understand well the help of bitcoin for the economic growth in the future.
legendary
Activity: 2128
Merit: 1775
November 13, 2019, 12:41:52 AM
#19
In this case, Bitcoin in Pakistan is still a heated conversation between the government and its users bitcoin.

Many pros and cons, for me the laws made against bitcoin users in Pakistan are very wrong, in fact bitcoin can grow the economy of the people of Pakistan well.

There are several methods you should read about the illegal bitcoin in Pakistan,
For example:
Quote
1. Legal status of Bitcoin in Pakistan,
2. Popularity of Bitcoin in Pakistan,
3. Bitcoin community in Pakistan,
4. Conclusions.
source: https://99bitcoins.com/buy-bitcoin/pakistan/

In my opinion, this news can be a bright spot for you, how is Bitcoin right now in Pakistan.
newbie
Activity: 3
Merit: 0
November 12, 2019, 03:13:07 AM
#18
Hope you all are well. There was talk of Pakistan in this discussion, so I am from Pakistan too, and I am sad to say that there is no such thing in our country. Even if it is, most people are not even aware of it. And the other services you are referring to are not even here, because the people here have no importance for security such as "face detection algorithm" and that is why most of the country is unable to develop. Other countries are developing because they offer such services as the per priority.
Security is something that everyone needs. Whether he is rich or poor, illiterate or ignorant.
Thanks.
full member
Activity: 1330
Merit: 147
October 30, 2019, 08:41:11 AM
#17
-snip-
The government is indeed have their own thinking/perspective who different with us who knows cryptocurrency and its function can help our daily activites. And we can't blame them, even I just thinking let them feel slowly the effect of this technology because I'm sure if the country will always ban cryptocurrency maybe it will be outdated country.

You can see now, the developed country have started to make their own cryptocurrency such as china and maybe the european countries will follow the idea. It is just because they will feel there is a problem who can't be solved such as sending money to different country who will take a long time (I had an exprience for this case and it took several days). But when you use cryptocurrency it just need one minute to solve it.

So, this is just the matter of time, sooner we will see there are a lot of country who accept cryptocurrency well and even they will use them to help some problems as I have said above.
sr. member
Activity: 1008
Merit: 355
October 29, 2019, 03:24:47 AM
#16
Recently I visit Pakistan and feeling very awkward after knowing that still, Bitcoins are illegal in Pakistan. How, no means how they people trade in the world without having the latest digital currency, amazing.

By the way in Bitcoins trading there are a lot of Identity checks.  I used to verify them I concern different identity services provider like Shufti Pro, trulioo, Jumio, sumsub, etc. would anyone of you guide me from which Service Provider i should done my deal.


These bans are meaningless. Just use something like bisq or localbitcoins and buy BTC from someone outside of Pakistan.

If you need more help or you are new to buying BTC, let me know. I can provide more assistance, and I am sure other members of this community can help too.

I mean you have to understand where the OP is coming from and based on the replies above, bitcoin is not legal in Pakistan. It's really hard to understand why government like Pakistan doesn't want bitcoin, just like India, maybe they are just afraid that it can be used by terrorist, just my opinion.

To the OP, I assumed you haven't heard that inter-government across the globe are enforcing the so called KYC. If you really wanted to buy bitcoin or trade then you have to used DEX, like Bisq.


I would not wonder why some governments are afraid of Bitcoin or think that Bitcoin can do them harm more than good. In the same that we have governments who are not open to the ideals of democracy and empowering the people, there will always be those that will not allow people to own and trade cryptocurrency. Maybe some have misconceptions about this based on what they usually hear and see in the mainstream media especially the possibility of being a tool for terrorists, money launderers and scammers.

Considering that countries such as India, Pakistan, China and even Russia have huge number of population and with a good number of them aged between 20-40, these could have been one of the best grounds fro cryptocurrency to thrive and prosper. Sadly, we can not force those in power to change their mindset, at least for now. Let's just continue hoping that years down the road, there will be new leaders coming on-board that can bring in new perspective and can see the many benefits and advantages of cryptocurrency.

hero member
Activity: 2870
Merit: 594
October 28, 2019, 11:11:23 PM
#15
Recently I visit Pakistan and feeling very awkward after knowing that still, Bitcoins are illegal in Pakistan. How, no means how they people trade in the world without having the latest digital currency, amazing.

By the way in Bitcoins trading there are a lot of Identity checks.  I used to verify them I concern different identity services provider like Shufti Pro, trulioo, Jumio, sumsub, etc. would anyone of you guide me from which Service Provider i should done my deal.


These bans are meaningless. Just use something like bisq or localbitcoins and buy BTC from someone outside of Pakistan.

If you need more help or you are new to buying BTC, let me know. I can provide more assistance, and I am sure other members of this community can help too.

I mean you have to understand where the OP is coming from and based on the replies above, bitcoin is not legal in Pakistan. It's really hard to understand why government like Pakistan doesn't want bitcoin, just like India, maybe they are just afraid that it can be used by terrorist, just my opinion.

To the OP, I assumed you haven't heard that inter-government across the globe are enforcing the so called KYC. If you really wanted to buy bitcoin or trade then you have to used DEX, like Bisq.
copper member
Activity: 154
Merit: 7
October 28, 2019, 02:54:24 AM
#14
Recently I visit Pakistan and feeling very awkward after knowing that still, Bitcoins are illegal in Pakistan. How, no means how they people trade in the world without having the latest digital currency, amazing.

By the way in Bitcoins trading there are a lot of Identity checks.  I used to verify them I concern different identity services provider like Shufti Pro, trulioo, Jumio, sumsub, etc. would anyone of you guide me from which Service Provider i should done my deal.


These bans are meaningless. Just use something like bisq or localbitcoins and buy BTC from someone outside of Pakistan.

If you need more help or you are new to buying BTC, let me know. I can provide more assistance, and I am sure other members of this community can help too.
full member
Activity: 714
Merit: 100
October 24, 2019, 03:47:25 AM
#13
Bitcoin's Legality page in Wikipedia isn't really that accurate anymore it's not that updated and literally anyone can edit it. Just by searching the words "Bitcoin Pakistan" you will see a lot of crypto exchanges, wallets, and news signifying that Bitcoin and other cryptocurrencies are allowed to be traded in Pakistan. So I'm not really aware of Bitcoin's status in Pakistan and it might be best if you consult the ones living there about it (here is their local thread), but even if the country has officially declared Bitcoin illegal you will see no enforcement of what type making it possible for this kinds of trades to happen, of course the only thing bad here is if you get scammed or your cryptos are stolen then you don't have the right to claim or retrieve the illegal asset with the help from their authorities.
After reading this I am also getting confused about the legality of bitcoin in Pakistan,someone posted an article where there is no restrictions to use bitcoins in Pakistan and there is no restrictions from banks as well and it also considered as halal  based on Sharia law so people from Pakistan still using it and country may not aware of it?!

It seems like in China, even after government ban and crackdown bitcoin, exchanges, and miners, people still be able to trade bitcoin.
There is no way to fully block bitcoin even if there is a law that state you will be in jail if get caught trade bitcoin
People in Pakistan can do otc to cash out or using localbitcoins, just like this one https://bitcointalksearch.org/topic/m.52327046

Correct me if i'm wrong but i think that Bitcoin was never banned in China but only the ICO projects and the foreign exchanges because they believe that ICO is fall of scam that they are just protecting their people from it and China if full of patriotism that they don't want to depend on international markets that is why they will just rely with their own local exchanges only.
https://cointelegraph.com/news/bitcoin-is-property-chinese-court-rules-no-crypto-ban-contradiction
sr. member
Activity: 2520
Merit: 280
Hire Bitcointalk Camp. Manager @ r7promotions.com
October 24, 2019, 01:52:33 AM
#12
Bitcoin's Legality page in Wikipedia isn't really that accurate anymore it's not that updated and literally anyone can edit it. Just by searching the words "Bitcoin Pakistan" you will see a lot of crypto exchanges, wallets, and news signifying that Bitcoin and other cryptocurrencies are allowed to be traded in Pakistan. So I'm not really aware of Bitcoin's status in Pakistan and it might be best if you consult the ones living there about it (here is their local thread), but even if the country has officially declared Bitcoin illegal you will see no enforcement of what type making it possible for this kinds of trades to happen, of course the only thing bad here is if you get scammed or your cryptos are stolen then you don't have the right to claim or retrieve the illegal asset with the help from their authorities.
After reading this I am also getting confused about the legality of bitcoin in Pakistan,someone posted an article where there is no restrictions to use bitcoins in Pakistan and there is no restrictions from banks as well and it also considered as halal  based on Sharia law so people from Pakistan still using it and country may not aware of it?!

It seems like in China, even after government ban and crackdown bitcoin, exchanges, and miners, people still be able to trade bitcoin.
There is no way to fully block bitcoin even if there is a law that state you will be in jail if get caught trade bitcoin
People in Pakistan can do otc to cash out or using localbitcoins, just like this one https://bitcointalksearch.org/topic/m.52327046
Not only on localbitcoin,they have lot of choices even local exchanges allowing them to do since their central bank have no rules against the purchase of cryptos,but in China they shutdown exchange only people able to work without their country's knowledge but here sites are active in that country itself.
hero member
Activity: 1036
Merit: 514
October 23, 2019, 08:27:30 PM
#11
Bitcoin's Legality page in Wikipedia isn't really that accurate anymore it's not that updated and literally anyone can edit it. Just by searching the words "Bitcoin Pakistan" you will see a lot of crypto exchanges, wallets, and news signifying that Bitcoin and other cryptocurrencies are allowed to be traded in Pakistan. So I'm not really aware of Bitcoin's status in Pakistan and it might be best if you consult the ones living there about it (here is their local thread), but even if the country has officially declared Bitcoin illegal you will see no enforcement of what type making it possible for this kinds of trades to happen, of course the only thing bad here is if you get scammed or your cryptos are stolen then you don't have the right to claim or retrieve the illegal asset with the help from their authorities.
After reading this I am also getting confused about the legality of bitcoin in Pakistan,someone posted an article where there is no restrictions to use bitcoins in Pakistan and there is no restrictions from banks as well and it also considered as halal  based on Sharia law so people from Pakistan still using it and country may not aware of it?!

It seems like in China, even after government ban and crackdown bitcoin, exchanges, and miners, people still be able to trade bitcoin.
There is no way to fully block bitcoin even if there is a law that state you will be in jail if get caught trade bitcoin
People in Pakistan can do otc to cash out or using localbitcoins, just like this one https://bitcointalksearch.org/topic/m.52327046
sr. member
Activity: 2520
Merit: 280
Hire Bitcointalk Camp. Manager @ r7promotions.com
October 23, 2019, 03:13:03 PM
#10
Bitcoin's Legality page in Wikipedia isn't really that accurate anymore it's not that updated and literally anyone can edit it. Just by searching the words "Bitcoin Pakistan" you will see a lot of crypto exchanges, wallets, and  news signifying that Bitcoin and other cryptocurrencies are allowed to be traded in Pakistan. So I'm not really aware of Bitcoin's status in Pakistan and it might be best if you consult the ones living there about it (here is their local thread), but even if the country has officially declared Bitcoin illegal you will see no enforcement of what type making it possible for this kinds of trades to happen, of course the only thing bad here is if you get scammed or your cryptos are stolen then you don't have the right to claim or retrieve the illegal asset with the help from their authorities.
After reading this I am also getting confused about the legality of bitcoin in Pakistan,someone posted an article where there is no restrictions to use bitcoins in Pakistan and there is no restrictions from banks as well and it also considered as halal  based on Sharia law so people from Pakistan still using it and country may not aware of it?!
sr. member
Activity: 2240
Merit: 270
SOL.BIOKRIPT.COM
October 23, 2019, 02:51:07 PM
#9
I don't understand your sentiment because the news is looks like Bitcoin and the crypto currency can be use in Pakistan legally. In fact, they want to create their own crypto. Here is the link for your reference. https://www.ccn.com/pakistan-will-issue-its-own-digital-currency-by-2025/

Yeah, it is true But it will may b alow in Pakistan but not yet. I don't know about their own crypto. by the way thanks for inform me and send me this useful link.
what happens to regulations proposal at the beginning of the year on cryprocurrency? As all those promises been reversed? the adoption rate had always been low and lots of political and financial factors can be responsible. Pakistan is not that type of country that can handle such technology careful except there are non government intervention.
hero member
Activity: 1680
Merit: 655
October 23, 2019, 02:37:59 PM
#8
Bitcoin's Legality page in Wikipedia isn't really that accurate anymore it's not that updated and literally anyone can edit it. Just by searching the words "Bitcoin Pakistan" you will see a lot of crypto exchanges, wallets, and  news signifying that Bitcoin and other cryptocurrencies are allowed to be traded in Pakistan. So I'm not really aware of Bitcoin's status in Pakistan and it might be best if you consult the ones living there about it (here is their local thread), but even if the country has officially declared Bitcoin illegal you will see no enforcement of what type making it possible for this kinds of trades to happen, of course the only thing bad here is if you get scammed or your cryptos are stolen then you don't have the right to claim or retrieve the illegal asset with the help from their authorities.
newbie
Activity: 4
Merit: 0
October 23, 2019, 05:02:19 AM
#7

there has been no change since bitcoin and other virtual currencies were banned last year. https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#South_Asia

it seems like south asia is particularly hostile towards bitcoin. there's an absolute ban in nepal and india is mulling over a similar ban too.


The ban is still on and there is no hope that soon this can be lifted. Pakistan, India and yes Nepal are countries with political leaders who are afraid of what Bitcoin can do to their people and the economy. Unlike other countries that are already open for Bitcoin, they see a different vision and a different way of thinking on cryptocurrency. People can however own Bitcoin discreetly but converting into local cash can be difficult as there is no legal exchanges operating within these countries. I am hoping then that India and Pakistan (two big countries with a lot of potential) will change its direction and will instead introduce a stricter legal treatment of Bitcoin. At the end of the day, people by large will always be following the dictates of their government so we might not see substantive adoption of Bitcoin in these places.



Ok
 thanks for informing me. it is really a piece of useful information for me.
newbie
Activity: 4
Merit: 0
October 23, 2019, 12:36:20 AM
#6
I don't understand your sentiment because the news is looks like Bitcoin and the crypto currency can be use in Pakistan legally. In fact, they want to create their own crypto. Here is the link for your reference. https://www.ccn.com/pakistan-will-issue-its-own-digital-currency-by-2025/

Yeah, it is true But it will may b alow in Pakistan but not yet. I don't know about their own crypto. by the way thanks for inform me and send me this useful link.
sr. member
Activity: 2520
Merit: 280
Hire Bitcointalk Camp. Manager @ r7promotions.com
October 22, 2019, 02:55:11 PM
#5
People can however own Bitcoin discreetly but converting into local cash can be difficult as there is no legal exchanges operating within these countries. I am hoping then that India and Pakistan (two big countries with a lot of potential) will change its direction and will instead introduce a stricter legal treatment of Bitcoin. At the end of the day, people by large will always be following the dictates of their government so we might not see substantive adoption of Bitcoin in these places.

Even though there is complete ban for cryptos in Pakistan people still find a way to trade them,

example : https://localbitcoins.com/instant-bitcoins/?action=buy&country_code=PK&amount=¤cy=PKR&place_country=PK&online_provider=ALL_ONLINE&find-offers=Search

So could use the p2p exchange for trading your cryptos but you are not going to find better deal.
sr. member
Activity: 1008
Merit: 355
October 22, 2019, 10:38:40 AM
#4

there has been no change since bitcoin and other virtual currencies were banned last year. https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#South_Asia

it seems like south asia is particularly hostile towards bitcoin. there's an absolute ban in nepal and india is mulling over a similar ban too.


The ban is still on and there is no hope that soon this can be lifted. Pakistan, India and yes Nepal are countries with political leaders who are afraid of what Bitcoin can do to their people and the economy. Unlike other countries that are already open for Bitcoin, they see a different vision and a different way of thinking on cryptocurrency. People can however own Bitcoin discreetly but converting into local cash can be difficult as there is no legal exchanges operating within these countries. I am hoping then that India and Pakistan (two big countries with a lot of potential) will change its direction and will instead introduce a stricter legal treatment of Bitcoin. At the end of the day, people by large will always be following the dictates of their government so we might not see substantive adoption of Bitcoin in these places.



legendary
Activity: 1652
Merit: 1483
October 22, 2019, 03:19:23 AM
#3
Recently I visit Pakistan and feeling very awkward after knowing that still, Bitcoins are illegal in Pakistan. How, no means how they people trade in the world without having the latest digital currency, amazing.

there has been no change since bitcoin and other virtual currencies were banned last year. https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#South_Asia

it seems like south asia is particularly hostile towards bitcoin. there's an absolute ban in nepal and india is mulling over a similar ban too.

By the way in Bitcoins trading there are a lot of Identity checks.  I used to verify them I concern different identity services provider like Shufti Pro, trulioo, Jumio, sumsub, etc. would anyone of you guide me from which Service Provider i should done my deal.

are you talking about transacting on a bitcoin exchange? it's not usually up to the end user to decide which 3rd party verification service gets used. that's up to the exchange.
full member
Activity: 630
Merit: 103
October 22, 2019, 03:06:16 AM
#2
I don't understand your sentiment because the news is looks like Bitcoin and the crypto currency can be use in Pakistan legally. In fact, they want to create their own crypto. Here is the link for your reference. https://www.ccn.com/pakistan-will-issue-its-own-digital-currency-by-2025/
newbie
Activity: 4
Merit: 0
October 22, 2019, 02:40:39 AM
#1
Recently I visit Pakistan and feeling very awkward after knowing that still, Bitcoins are illegal in Pakistan. How, no means how they people trade in the world without having the latest digital currency, amazing.

By the way in Bitcoins trading there are a lot of Identity checks.  I used to verify them I concern different identity services provider like Shufti Pro, trulioo, Jumio, sumsub, etc. would anyone of you guide me from which Service Provider i should done my deal.
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