Topic: Need your help, Petition against central Bank in Pakistan for Cryptocurrency (Read 177 times)

Hey Waqar, long time no hear. Did Tehreek-i-tech work out?

Anyway: could be wrong but when it comes to politics, you got to play the politics game. There's actually already a lot of movement in PK for crypto, you should know from your following =)

You know as well as many do how ineffective these petitions are, least of all in Pakistan. You might actually want to remind them how shitty India is treating crypto... and then Pakistan should do the exact opposite;)

I certainly side with you on this. I believe that cryptos should be made available worldwide to everyone - and not have artificial restrictions placed upon it that can detrimentally affect the accessibility that people have to cryptos.

However, it is extremely unlikely that a petition alone would change an entire central bank or government's stance on crypto.

They have much bigger agendas in terms of their bans and restrictions than satisfying the wants of the crypto community, which is unfortunate, but true.

As an advise, I think in your argument you should be looking at what government stands to gain from the legalization of crypto for you to achieve your objective pretty fast because when it comes to something so fundamental, the art of negotiation have proven to be very effective where the parties involved see that they are gaining something and the recent release by the IRS concerning the tax of crypto can come in handy in your argument.

Another again you should consider in how to tackle questions about insecurity and illegality should some people decide that because of the anonymity that surrounds crypto, they can perpetuate illegal activities. You will need to argue that the transparency is something that can be used as an advantage to get those individuals.

I see the determination you have in your video however I really don't think that gaining support from outside your country is the best way to go since they will quickly disregard it as you are only getting support internationally and not locally. If you really want to be heard I think the best way to go is to ask for support in the local board for Pakistan (Pakistan here only has a thread in the forum) if you gain some support locally then the court will see that a lot of your citizens will be affected if they continue to have unfavorable laws towards crypto. Even if you fail in this lawsuit chances are a politician or two might take the advantage and support your initiative as well.

I doubt if you can ever contribute something this way towards making cryptocurrency legal or recognized and allowed in Pakistan. With a growing interest of cryptocurrency from the Pakistani people, it would have been good if soon the government will allow this industry to flourish in the said country. Now, I am suggesting the following points which you can consider:

1. I am suggesting that you don't do things along. Find a group with the same mindset and you act as a group. Individuals will not have a good impact with something like this but if you are backed by a group of people then maybe the government will listen to you more. Do things in the name of the group and not by yours. This is the power of the people.

2. Always work with people who are more knowledgeable with the law. In other words, get a lawyer who can work with you on this matter since you are dealing with legal matters. A lawyer who has some knowledge on finance, money and cryptocurrency can be the ideal one though it might be hard to find it in Pakistan since cryptocurrency is a new industry.

I am wishing you all the power, wisdom and luck in this uphill battle of stirring the nest of those people occupying power. There is a big market in Pakistan for cryptocurrency for sure and once this can be opened I am sure this can be contributing a lot to the overall growth of the whole industry.

That is a sad reality and we cannot deny it!. In fact, there is no standard framework for crypto adoption among Government policy makers that they either end up clueless on how best to adopt this emerging technology or become more antagonistic of any change involving crypto for fear of any unwanted side effects on status quo. Imho.

It seems to be a trend amongst people to set up petitions for people to join, but thus far none have been successful. The most ridiculous one thus far (not implying that OP's petition is ridiculous) was a petition set up by XRP bag holders to make Ripple stop selling XRP because it clearly has a devastating impact on the price.

I doubt lawmakers will even bother to look into this petition as they haven't ever cared about anything regular folks found important and due for a change. I'm pretty sure that they aren't even at a point where they understand how crypto in general works, so they generally rather just hold back for a while to see how similar laws in other jurisdictions work.

Aside from referencing legal discussions from other country, I think it might be good also if you could rally the support of your local politicians or even the ones that have high Government positions to lobby and support for your cause. Imho.

This kind of soliciting legal advice from this forum may not really serve you best. If you are looking for specific laws of other countries that could be applied to your own country, it is best to consult some lawyers in your area who have specific background in international laws, specifically financial laws or laws pertaining to cryptocurrency or fintech.

I am not a lawyer myself but it is hard to argue on the line of "this is applied or made possible in the UK or in the US therefore this should also be applicable to our country." I suppose legislators do not just copy laws from other countries. They craft their own on the basis of their own country's circumstances.

You will find that the UK law and USA laws are very different to the laws in Pakistan, so I doubt if it is going to be acceptable in the Pakistani law courts, if you use the laws from other countries. You might use the same argument and motivations, but the laws are different.

What is the legal status of Crypto currencies in Pakistan now? Do they ban it or are they still formulating laws for it? Most countries define Crypto currencies as Commodities and not as currencies. 

This thred should move to Legal sub forum!

I can share some material which can help you preparing.

Tax on cryptoassets in UK:
https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals

Collection of cryptoassets related policies in UK:
https://www.gov.uk/government/collections/cryptoassets

I would suggest you to get in touch with an Indian lawyer's group called Cryptokanoon as they are already handling a similar case in Indian supreme court. You can get the contact details from their twitter handle. They can share useful materials which can help you in this matter! All the best!

Hello everyone,

I need your help in getting pdf or exact laws made by U.K. , USA for legalizing Crypto Currency as I have filed a case in Pakistan, which is the first-ever case in favour of cryptocurrency, I need to talk in Court's language, Pakistan follow U.K. court laws, so I need to show Pakistani Court how U.K. formed laws for digital assets, miners, Crypto Currency ATM Machines, please provide link to law documents, here are my details
https://youtu.be/TDIAp0MOuNw