Topic: Pakistani Central banks wants to ban crypto (Read 444 times)

If you use P2P for Bitcoin buy and sell and if you are careful enough not to mention the reason of transaction as bitcoin transaction, then it would be impossible for the government to track you.
Also do not make big transcations  so that you are not get noticed of any irregular behavior with your bank account.

Government this, government that, blah blah with their threat wouldn't destroy bitcoin capitalization. See, I know if they allowed crypto (bitcoin) in the country, it will facilitate adoption but there rejection has nothing to play.
It happened here in my country and the works still moving fine, Infact the have adopted p2p more rapidly than the previous way of banking financing their deposit and withdrawal.
What is require of them is to discard anything that has to do with crypto transaction on their local bank account and Pakistans are good to go to their bitcoin normal life.

Ok! podem banir, desde que não proíba os visionários (que estão sempre de olho a novas oportunidades) de se disponibilizar para investir o dinheiro dos paquistaneses em outras nações liberais (eu cobraria um valor baixíssimo para isso). Às vezes olhar para além da cultura local nos proporciona a expectativa de aumentar nossas riquezas em um espaço de tempo mais curto do que imaginamos quando nos limitamos ao padrão cultural de investimento local.

Ouse olhar por cima do muro que os cercam. Pode haver ouro palpável do outro lado.

english:

OK! can ban, as long as it doesn't forbid visionaries (who are always on the lookout for new opportunities) from making themselves available to invest Pakistanis' money in other liberal nations (I would charge a very low price for that). Sometimes looking beyond the local culture provides us with the expectation of increasing our wealth in a shorter period of time than we imagined when we limited ourselves to the cultural pattern of local investment.

Dare to look over the wall that surrounds them. There may be palpable gold on the other side.

Glad to know that, I didn't encounter this kind of news but because of this forum I know about it and if ever it is true that Pakistani Central banks wants to van crypto this would be of course one of the negative news that I am sure would affect bitcoin market value, I'm not sure if it greatly affects but it would still give a negative feedback. So, glad to know that you have shared it here in forum mate, at least we know some piece of positive news about it.

I must ensure this "the government or central bank exactly?"
It means that the citizens may not be able to do all types of crypto industries and will get some punishment when they are doing this?
Or they only cannot cash out their money from the crypto exchange directly?
Well, actually some countries are still doing this, but in fact, far, it will not stop the citizen to work in the crypto world. Because they need money and they feel difficult to get any job and money in the real world. That is why many more citizens will prefer to work in the crypto industry.

In fact, not all countries will understand about this, moreover, if there are more political issues or interests. They will probably don't like or legalize crypto because of certain interests, beliefs, and others. Negative issues will be always over there, and many more other governments and citizens believe in that negative issues. Well, it may be a matter of time. Because whatever happens, crypto is unstoppable.

Bitcoin isn't banned all over Pakistan. However, it's still legally used in most Pakistani provinces, such as Sindh. I suggest you watch Waqar Zakah videos on Facebook. He stands against the government of Pakistan through the High Court and wins the case. The government of Sindh makes cryptocurrencies legal after assuming their benefits. I don't know where you're living in Pakistan but at least check the videos of Waqar Zakah how he fights against the government and wins the case.

While a lot of countries are trying as hard as possible to move forward, it is quite unbelievable that there are still a few of them who have decided to be moving backwards. At this point in time I am not really expecting to be seeing news that has to do with banning cryptocurrency, because I thought that it was so last year.

Governments by now should be seeing the good of cryptocurrency, especially Bitcoin, with all the achievements that have been made so far and how these cryptocurrencies has been able to benefit us. Instead of them banning Bitcoin or crypto currencies, they should have instead studied it and know ways that it is going to benefit them and how they would allow it to function in their countries.

They should not be looking after crypto at all because their prime minister himself declared that Pakistan is almost sank into the economical burden and is now in full debt. The friendly nation that is China is taking full advantage of this situation and pulling any schemes they could on the pakistan. I think this is mind gobbling situation for the Prime minister Irfan Khan.

In such hardship, I would say pakistan should be staying way out of the crypto currencies. They simply can't handle the extra burden from the crypto sales that may happen within the country.

Crypto is all set to free you but for this to happen the countries economical situation has to be in perfect conditions. Imagine all the peeps in pakistan start using the crypto suddenly and all the banks need to pay back for what they sold. Would go crazy.

This will become an opportunity for others when they see some countries banning bitcoins and the people are rushing to sell their bitcoins at low prices, others will take advantage of that and buy their BTC. Those who are weak to take care of their feelings when something like this will happen is meant to lose the opportunity to others. If the price will crash because of this, then I will be the first to buy their BTC because I already know that it will gonna pump up next time.

The one will suffer here are the people lives in that country Pakistan had developed constant growth in their technology.
It is their country and their rules, people has nothing to do but to follow and just show their main objective.
Eventually they will make new forms for their innovation , i know that the world including pakistan is going to more technological sooner.

If true that is unfortunate for the Pakistani people, but no one ever thought the Pakistan government was progressive or open to decentralized technologies. One of the consequences to the growth of blockchain technology - decentralized by nature - is that central authorities despise it, but by trying to censor or ban it, they perpetuate poverty among those they control. So there will eventually be a backlash over this policy. They will eventually have to come to terms with technological innovation.

They can ban Bitcoin or crypto whenever they wanted but will this really effect the market? i mean the whole cryptocurrency market?  Pakistan is not that big country to really take a bad effect in the circulations .
and also we are here to support crypto and if we will go together then this cannot take huge effect in our precious market here.
Nope they will never like china because the market of Pakistan in crypto is very tin compared to the market of china in crypto specially in Bitcoin .

Governments doesn't want things to be decentralised. For the purpose countries keep issuing statements of developing their own cryptocurrency. That is not a cryptocurrency, but digital cash. Over the past years we've seen more countries making ban and further taking into consideration for regulation. One being India, which is something similar to Pakistan. So, all that steps taken by these countries are to tackle the present situation. Even if these banks stop supporting, people who are used to it will find alternate ways.

What the Pakistani government does if it bans crypto will not have a big impact on the crypto market. But it is the Pakistani population themselves
who will be harmed, where crypto is proven to be able to improve economy. Especially in the current global economic crisis, looks like
the Pakistani government should rethink to ban crypto. I think most likely the Pakistani government doesn't really understand crypto yet,
because if they already understand crypto, it is impossible to make that decision. After all, crypto has proven to be able to provide benefits for its users.
But I'm sure the Pakistani government will not forever ban crypto, in the end they will change their minds if they see many other countries starting
to legalize crypto. So Pakistanis really have to be patient for now, after all, Pakistanis can still own crypto. Because there are many ways
to have crypto, even though the Pakistani government forbids it. This also applies to Chinese citizens, which the Chinese government prohibits
crypto, but there are still many Chinese residents who own crypto.

Of course Bitcoin is gaining more and more popularity as the influx of individuals and institutional investors into the network continues, but I don't believe that countries/governments are accepting Bitcoin (and for now it is yet to really matter), quite a lot of them are imposing as well as proposing one sanction/ban/regulation or the other, they somewhat do not like its decentralized nature, and the ability of Bitcoin users to be their own bank and control their funds, that's why many countries are proposing to ban Bitcoin usage in their country, by the way, for now we're yet to experience any sanction that has really affected the Bitcoin network massively, we'll see how things pan out going forward.

We need to first know how much crypto is being used currently in Pakistan and how many people are aware of it in the first place. If only 1 - 2% of the total population knows about the crypto, then it will not make any impact within or outside the country.
However, it will stop the adoption of bitcoin in the country and it will not be healthy for the citizens.

Yeah Bitcoin is spreading all over the world. Banning Bitcoin on Pakistan will not be a big problem on the price of Bitcoin. Many countries are accepting Bitcoin in daily life. After all it's a bad news for Bitcoin lovers from Pakistan.

the banning of bitcoins in several countries and now that the central bank of pakistan wants to try to ban cryptocurrencies, I'm only limited to issues that try to influence the current bitcoin market price. although it is true that the bitcoin ban in Pakistan has not had much of an effect on bitcoin's recent growth. because bitcoin is worldwide and many other countries are trying to make bitcoin a legal medium of exchange.

This is not good, I think the Pakistani government will follow in the footsteps of its close ally China, It has been a big blow to the Pakistani crypto community and I think there will be some consequences of that decision and it might cause some civil disobedience coming from the affected cryptocurrency users and investors in Pakistan that's why Im hoping that the court decision will favorable to the Pakistani crypto community.

Perhaps, we don't need to worry about it, they are just small market players, if they will leave and ban crypto this never have a huge impact on ​the market, we never felt it in general.

Anyways, we can't expect that all countries will adopt crypto, some will remain doubtful about Bitcoin. But I'm going to say that sooner they will realize that crypto has played an important role in this new era which could change their approach to crypto and embrace the system. It can be just now as they don't understand about this, they'll ask for some time to think about it.

I wouldn't worry too much about East Asian regions banning bitcoin or crypto in general because there's not that much change that they can create in the market even if they do, India has been having an ban and unban status with bitcoin and crypto for awhile now and so far, there's not much that has change when they do this so I don't worry that Pakistan joins the fray.

It seems like something natural for an overbearing government to do and likely comes back to tax revenue, but a lot of extremist activity takes place in certain regions of Pakistan as well. Bitcoin has many good uses but it can be abused by criminal elements as well, to transfer funds around which could be used to attack private citizens or even the government in various ways. The tax system in Pakistan will also be a mess because so much work is carried out on a cash only basis, so the government are probably trying to capture a bit more revenue that would be taking place electronically. For certain countries like this one, it's a difficult decision to weigh up the pros and cons of cryptocurrency.

Right from time the government has always believed that cryptocurrency can be used to fund terrorism. But, does banning cryptocurrency really bring a solution to the problem that they are having now? Because even if the government bans cryptocurrency, since it is decentralized, there will still be a way for people to continue making use of it.

And if there are people who are really making use of it to fund terrorism, don’t you think that they would still continue with such acts? Maybe they should look more into how they can prevent such from happening by capturing those that might be involved in such act. I don’t really think that banning cryptocurrency is the solution.

I do not think the Pakistani Government and those running the Central Bank are that dumb when it comes to crypto. It's been over a decade since BTC was born so they definitely know. It's just financial interest and not the lack of education that's making them issue or propose these bans.

Perhaps, Pakistan is just like nothing...we are supposed not to worry in the first place, and besides, they are not helping anyway. Banning crypto in their place is not a loss on our side. Cryptocurrencies will continue to grow without them and in fact, even China never has a huge impact on the market.

I know they have the reason for banning crypto in their place and it was respected. This will simply tell us that the spread of crypto is full of challenges, we can't force all the countries to adopt the system, and they also have the right to reject this.

We have repeatedly seen that the prohibition of cryptocurrencies in a single country or even several countries cannot affect the spread of cryptocurrencies in the world. Pakistan has previously been hostile to cryptocurrencies. Therefore, the prohibition of cryptocurrency in this state will change practically nothing for the cryptocurrency market.
It will be bad for cryptocurrency if such a decision is made, say, at the G20 summit. If the ban exists in all these states, then the situation for the cryptocurrency will even be difficult to predict.

For the Asian region, China's crypto ban has managed to get the market corrected some time ago, but I'm not sure how much of the crypto user base is in Pakistan that the market will have an impact. If Pakistan does not have enough crypto holders, then they cannot influence the market on a large scale. But unlike western countries, you will only see a market dump when one of them announces a crypto ban.

Governments try to againts crypto because they realize that most people will have their own bank with crypto, it will create competition between banks and crypto. The growing user base of crypto makes government "banks" start thinking about how they can get investors or customers. But clearly not everyone is interested in using crypto as a place to store money so maybe they will get some support for his proposal. But it would be much more profitable if they just regulate, not ban it.

They will end up like China and soon their threat will hold no value, it will only end up as empty threat, the crypto community am sure are already tired of this constant banning threat from all this government, while they are plotting on how to ban crypto new adoption are coming into it, they can't stop crypto existence and continuous usage, it has already elude them.

lately there have been so many bans on the world, both from several countries and from companies such as the central bank like what was done by Pakistan but for me it is not affected by the ban they are only able to ban bitcoin but not able to eliminate circulation bitcoin in various areas this is because bitcoin is very difficult to get rid of they can only ban their citizens or people associated with the company, we hope they don't ban bitcoin for some time now

In case you are unaware, the banning of crypto always starts as regulation. Then the regulation ends up going too far, usually ending up in an outright ban. If you immediately ban crypto, the potential economic ramifications aren't worth the short term gains of forcing citizens to use the country's currency -- ie, if the US or China were to ban crypto, some portion of their economy would suffer given the amount of growth that can be attributed to the crypto sector (an insignificant portion, nonetheless, but still). Pakistan I wouldn't imagine serves as a hub for the crypto sector -- my point only being that initial regulations inevitably result in a ban.

I don't think it's like that, the reason for btc is gambling, there have been many who have denied this, even religious circles can't say this because it has been refuted, the reason for religion is just made up I think but indeed things like this are actually a waste of time I think because this kind of thing will not have a significant impact and they should think about the future and not just for a moment

as for the china ban of summer 2021
guess what happened afterwards in october 2021
https://hd.ndrc.gov.cn/yjzx/yjzx_add.jsp?SiteId=372

and in late november
https://www.ndrc.gov.cn/hdjl/yjzq/yjfk/cyjgtzzdml/202111/t20211130_1306450.html

so its not quite over and finished. they are atleast willing to listen to opinions to change the ban
then there is stuff like this said in december
http://js.news.cn/2021-12/21/c_1128184764.htm

in short, big farms. or residents that steal electric are "illegal" but residents that dont steal electric are not restricted although would be monitored to catch them if they steal electric

followed by

I agree to ban crypto, will not make people stop using crypto. As has happened in China, where the government has banned crypto several times.
But there are still many Chinese residents who use crypto, even the price of Bitcoin is not affected at all by China's ban. Therefore the same thing
will happen to Pakistan, especially since Pakistan is not as big as China. So please Pakistan central banks ban crypto, it will only harm
the country of Pakistan itself, because if the country of Pakistan legalizes crypto, more benefits can be obtained. Sometimes Pakistan does have
to take wrong decisions first to be able to realize the importance of crypto.

Pakistan doesn't have a big effect on bitcoin, so this news is nothing...

but if the US says they will ban crypto then the crypto market will surely falter for a while. It's not good if a country considers cryptocurrency as an enemy because in the future when mass adoption occurs, they will be like licking their own saliva.

As you know crypto is becoming popular now a days, and even if Pakistani central banks wants to ban crypto, still there crypto is used by many users in Pakistan. So, it's hard to ban crypto anymore.

Well this is what I am thinking too --it could be bitcoin used in terrorist activity and I think the government of Pakistan trying to control their people's money. Perhaps in the end, --Pakistan will understand how bitcoin will work and even though traditional money can be also used in terrorism.
However, I don't think this will have a huge effect, Pakistan has a small country. Look at China, they even don't have an impact to the price and I think this is nothing.

From what I know about Pakistan they are facing groups like the Taliban and surely they should be more careful about their people's money transactions because this because related to the gun or even bomb deals with these groups maybe that's the reason for their government to ban bitcoin-related transactions in their country however from what we know about bitcoin this cannot be suspended from any government so there will be not any serious problem for the bitcoiners to use bitcoin for their transactions.

That's right, because crypto is private, even we know how to access it. It is not only the central bank of Pakistan that has spoken this way, many have previously rejected it. But as we have seen so far, there is no significant effect on cryptocurrencies.
You are right, it is possible for the central bank to issue a policy to ban it, but not for the existence of crypto.

That's why everyone dislikes you Franky, when you get caught saying stupid things you go and edit posts and then pretend it didn't happen and you pretend you never said the stupid things you did.

You said NYC , here is the archived version of your post:
https://loyce.club/archive/posts/5897/58979795.html


Then when you realized NYC stands for the CITY as I pointed out you went back and edited your own post:



You've sunk so low I can't figure out why you're not already in Australia or at least 3/4 past the core of the Earth

I don't understand why those countries want to put a ban on crypto currencies. Banning something is not a solution. If the government is afraid that people will be using it for evading taxes or other illegal financial activities, then why not just regulate it properly? Introduce a proper regulatory framework that will allow their users to use crypto currencies legally without any issue. I am sure their government doesn't know much about how crypto currencies and blockchain works, hence instead of trying to learn about it, they are just proposing a ban without any justification. I hope they know that even after they ban it, their people will still be and will be able to use bitcoin.

Hasn't it been a long time since the country did not legalize cryptocurrencies?
And is their focus now on making it difficult for them to make transactions from crypto proceeds to their bank accounts?
Well, if so, aren't their other alternatives to cash out without going directly from the exchanges to their bank account? And so far, of course, crypto enthusiasts in the country have also used various alternatives to continue their activities in the crypto world.
What's more, it might just be a small FUD blown out in the country, just like the FUD about "haram" crypto in my country. However, it did not have a big effect on citizens and the crypto world.

Some are not really well-informed why they are banning crypto. We don't know to what extent their government officials know about bitcoin or crypto. But I believe, it will take time before they will change their stance on crypto. Maybe, for now, they are against with crypto but only time will tell if they will change their minds towards crypto. If they are seeing neighboring countries to be more friendly with crypto, they may again reconsider this decision.

We've heard a lot of ban and are they still a thing today and do they ring a bell? I don't think so.

Let them have what they want to have and do what they have to do. That's no different from the news from China ban, India's ban and other countries that have made the same decision before.

But on this case of Pakistan, it's still a proposal and it could not be pushed if the government don't want to.

They are quite late on trying to impose such bans on crypto since their neighbor India is trying for the longest time.
My guess is that the court will issue an order to further study the matter and maybe propose it as an investment asset.

They can issue a banking ban on any form of currency other than fiat and there's nothing you can do about it.

Am still suprise why people think Bitcoin is gambling, the question I always ask people is how is bitcoin gambling or how is cryptocurrency gambling? I believe cryptocurrency is just buying and selling and making profits and lost. Cryptocurrency is just like you are in the market and you are purchasing goods for yourself either to store, resell or to make use of it, since buying and selling is not gambling then cryptocurrency is not also gambling.

Same thoughts and opinion that these bans and criticisms would turns out to be positive ones or really made out some u-turns whenever they do realize off things and telling to themselves that they were actually wrong on that early phase and its true that sooner or later they would able to discover it out yet crypto awareness and popularity or adoption isnt stopping as we do go ahead in future years to come.Banks would be always having that bad impressions towards crypto and since these institutions are heavily regulated then its no surprise that they would be following on what governments
rules and regulations which it isnt surprising.

^ I suspected that it is against their religion which is they think BTC is a form of gambling and gambling is strictly prohibited by them.
No one will care if they will ban BTC, there are too many Muslim countries doing the same like this but later on, they will unban BTC and remain silent on this. Probably after a year, they will realize how potential BTC has when it comes to gaining profit, it will probably want to ban crypto because of possible terrorism activities which are BTC is easy to use that kind activity. However, let them be, sooner or later we will not surprised they will announce again they accepted bitcoin as a legal tender.

Seriously that's very bad, but am still suprise why all this countries are still avoiding cryptocurrency I believe they are just wasting there time trying to ban bitcoin because it can't stop bitcoin from growing and am sure people in the country will still be using cryptocurrency but it's no more legal is now illegal. I believe what government is suppose to do now is just to adopt bitcoin and cryptocurrency in general so that they will stop there selfs from unnecessary stress.

This News is not entirely correct as there is no ban on the crypto in the country. The next Court hearing date will be 12 April, 2022 where by the ministry of finance will tell their verdict on this purposed ban by the central bank. This is for now only a proposal and the final decision will be made on 12 April.

The people of Pakistan are very furious on the announcement and they won't let his ban happen. Using crypto is a basic right for everyone and government/banks have no rights to ban it.

Bans would only make people crave for the real thing, and I'm also not sure what good it does to the country's economy. With bitcoin and crypto availability, at least people can make their own money, and perhaps do some domestic purchases to help stimulate the economy. Banning something is backwards thinking IMO, especially if there is a lot of potential to be had on it if the government takes their sweet time in studying it.

it was NY state
https://govt.westlaw.com/nycrr/Document/I85908c6b253711e598dbff5462aa3db3?viewType=FullText&originationContext=documenttoc&transitionType=CategoryPageItem&contextData=(sc.Default)

not sure why your talking about "city" to try to argue that it never happened

More surprise as banks want to ban its competitor bitcoin, when bitcoin does not need any permission from the banks or government to keep its existence. However, the adaption of bitcoin may bring the banking business to a complete end. So banks will always want people to stop using crypto and for this purpose, they may take help from the government.
No matter what they do, in the long term, no one can ban bitcoin.  

I would normally say that is nothing burger because nobody gives a shit about what Pakistan does but this time I am afraid that the other central banks might follow the Pakistani CB on this. I wonder what is it they are afraid of so much which makes them to take such rough measurements... Something must have freaked them out if they suddenly came up with this kind of regulation/law.

The old technique, which is not much affected on the market anymore, is not much affected because crypto people already know and have proof that bitcoin is already established without any government support, only community-supported things, and where bitcoin has reached today is all because of its community. Now the community understands that it does not matter whether the government supports bitcoin or not; if people know about it, they will support it.So guys, don't panic. Stay with Bitcoin. Keep believing in it. It will not let you down. One day the government will regulate it, it's guaranteed.

It is just a short time negative effect, and a positive long term on the other hand. Remember the day when China imposed on banning Bitcoin? It gave a spark, a momentum hitting new ATH, it gains more popularity. It gains more audience as they are putting it on mainstream Media. The people who doesn't know about crypto accidentally brought to the system and therefore gets curious what it is, leaving them to try it and then gets mixed with the pump and therefore boom, it goes viral again and the price surges more.

NYC is the city, bitlicense is a state license and a state government regulation.
There was never a ban on personal or on merchant transactions ever, so you're comparing apples with monkey dumps, as usual.

whatever they want to do
I don't really care whether they want to accept it or not because what I believe at this time even if they refuse, of course it will not have much effect on bitcoin's growth, especially now that their adoption is getting better and better. why should care about things like this even if they are sorted important or impossible this I don't think is important to see

you do remember the NY ban and then the bit licence era right..
yep it already happened and so no drama now.

Well, we see a lot of countries ban bitcoin but does that have any effect on bitcoin adoption? When countries as big as china announces the bitcoin ban news, the bitcoin dumps but recovers quickly. With other small countries, like Pakistani banning the cryptocurrencies, that will have absolutely no impact on bitcoins.
However, i do feel sorry for the citizens who will face difficulty trading and involve in other crypto related activities.

What I like is that there's no movement of the price after such news, even though it's natural for news about restrictive crypto bills to be followed by about a 5% decrease of Bitcoin price. Hopefully, it won't pass and people in Pakistan won't have to face a ban. As for feeling threatened, I think that apart from Bitcoin replacing banks, the governments can also be afraid of its decentralization and thus something out of their or anyone's control. But it seems that this news abut Pakistan is exaggerated, especially if it's just the position of their central bank.
I believe that it's actually important if the rules are strict and are actually enforced. Sometimes some laws exist but aren't enforced, and in that case they don't matter. In my country, for example, it's the legislation against piracy. It's illegal to download or watch movies online (excluding legal subscriptions), but pretty much everyone does it and there's literally never any punishment for this. It's so common that a friend of mine even didn't know it was illegal. But some laws are enforced and can mean big fines or even some prison time. And if something like this is introduced regarding cryptos, the majority will abandon them because it won't be worth it for them. Another significant result would be major crypto exchanges and other services being unavailable in that country because big companies don't want to break the laws of some countries and be in trouble for that.

Short term? A ban from the US?
Do you even realize what the implications of such ban will be?
Look at the companies holding bitcoins, look at the public traded mining companies, hashrate distribution, number of ATMs, a number of both nodes and LN nodes, remember every damn crypto card uses either Visa or Mastercard, a complete ban from the US? It's going to be a massacre.


They are seeking a complete transaction ban, and at that moment no merchant will be allowed to take payments in crypto what are you going to do? Will switch back to SR? Buy lama socks on craigslist? An all-out ban coming from the US will be a disaster, not even mentioning the fact that with all mining companies going out of business and miners dropping like flies, with a  ton of gear that can be bought at scrap metal price the cost to attack the network would be cut one hundred times in a moment.

But, fortunately, the US is not Pakistan and nobody cares about Pakistan (when it comes to crypto).

as mentioned with every other country, including america,

a country cannot offer licences, permits regulation of a product unless it first prohibits its use. then it gains legal control to punish those who use it. then then allows them to offer special provisions of using it (licences/regulations) for those that do want to use it.


this means a country banning a crypto is also the first step to allowing crypto(in a regulated system)

Governments world over will always fight to take control. America might be quiet but deep down they are pained and can secretly hack the whole system down just to see paper currency win.

Even if the policy is passed, the market will not be too much affected. As people have said before, even though there is a ban it doesn't mean that people who use cryptocurrencies can't fully access their crypto. So this is still in the development stage and the validity test of the data comparability needs to go through various stages of ratification by amendment of the board in Pakistan. Pakistan's presence and impact on crypto don't really have much of a role to play, so we still remain optimistic that the ban will not have too much impact on the stability of the crypto market, especially Bitcoin.

Yes, I made it known in the OP, it's still a proposal for now, nothing concrete, and no decision has been made as for now
It's basically just about control, the government of course control their fiat currencies, thus there is no way to they will want to see anything wrong with it, but as for decentralized digital currencies like Bitcoin that offers users control, the government will come up with crazy lies just to discredit it, they just want control, and that's just it.

Think the headline of the news is kind of shows bad journalism as it is not started that Pakistan has banned cryptocurrency rather it trade which is the same as not being allowed to be used for payment of goods and services within the country which is normal and is expected from such country just to protect the Central currency from totally failing into high inflation, but the citizens can still hold Bitcoin and will transact in cryptocurrency without any state punishment for using bitcoin. So the citizens are free to own and use crypto.

Pakistan is not a big nation in terms of crypto adoption. According to Chainalysis and usefultulips, bans if enforced in Pakistan won't affect global crypto market. If bans news come from big countries like China, USA, Russia the market will be affected more but only in short term.
https://blog.chainalysis.com/reports/2021-global-crypto-adoption-index/
https://www.usefultulips.org/combined_Asia%20Pacific_Page.html

Long term Bitcoin beats all of FUDs, all of bans, from whatever countries.
https://99bitcoins.com/bitcoin-obituaries/

Not only Pakistani banks but it is also banned in a few other countries like Bangladesh and Bangladesh because the thief Batper, who is a thief by phone, captures the child Zimbi and demands money through his free mountain bitcoin.  Bitcoin can be given through different wallets so only the address of bitcoin can be traced as it is very difficult to catch the killer mafia so these countries have banded coin cryptocurrency.  Besides, a lot of stolen money from Bitcoin is looted from one country to another and exchanged.

Noticed that from Cointelegraph, it seems they are following China's footprint. If my memory serves correctly, many times heard that Pakistan going to ban cryptocurrency. The government could announce it as an illegal asset. But they can't prevent you from using cryptocurrency. Due to the decentralized behavior of the cryptocurrency still, people can use it. Do you think China citizens haven't been using cryptocurrency? I don't think so. Banning cryptocurrency means governments don't want to get tax from you. That's what I believe.

1. There will always be some who prefer to piss against the wind. Sadly it happens now and then. But it's far from sure that this ban will actually ever happen in Pakistan.
2. "Seeking to ban" means absolutely nothing. It's like the announcement that there may be an announcement. If more important things would happen, this would be ignored by these news agency wannabes.
From seeking to proposing and from there to getting it to be come law there are plenty of steps and time.

Not much of a surprise that another middle eastern country is wanting to control its citizens. I do agree with you in a couple levels. First, technically no country can all out ban bitcoin, there’s always going to be over the counter trading that will counteract this, however we do need the exchanges for the on and off ramps which are what’s going to help make bitcoin a global currency. Just my 2.

Who cares if this or that country decides to ban Bitcoin?
It won't change anything, except that the people who are in it only for the speculation will get out. Which is not so bad in the end. It's like during a crash when the weak hands pull out of the market.

Do you think the police will come knocking at your door to check your computer to see if you downloaded Electrum? Or request your ISP to monitor your activity on the web?

We don't need the approval of any government. Even if it comes from an influential country, like the United States, we don't care. Let's go Brandon. We haven't even invited them to give us advice.
A ban from some countries is just a joke to scare people. Governments can not ban the Bitcoin network! They may try to frame it but who decides? A government or us? The media tries to turn a useless news item into a dramatic one and people jump on the trap.

They can impose sanctions on crypto exchanges but again who cares? Only the companies that are worried for their business. We, bitcoiners, do not need CEXs, that's not how it was supported to work. If they do impose sanctions, well no big deal because folks will switch to decentralized solutions and that's how it should be.

Using decentralized currencies with centralized solutions/companies. How funny it is  

Decentralized currencies are not yet banned in Pakistan but this is a threat to bitcoin and other crypto users in the country.

I hope Sindh High Court will see good reasons not to ban cryptocurrencies other than what State Bank of Pakistan (SBP) brought them as a means to make cryptocurrencies illegal in the country. Just like what happened in India, but Indian court was later able to see the true reasons not to ban bitcoin and other cryptocurrencies.

What makes SBP think crypto is illegal when they deemed Pakistani rupee legal? Because they do not have criminals that are having means to scam people of Pakistani rupee? That is no of course. I am wondering how some people are so primitive and prefer to be fixated to certain level only.

Instead to call for regulation, they called for ban. Bank as usual.

This is the reason why some countries will always lack behind, just little insufficient research and comparison with other countries that may have hidden agenda.

The Pakistani government is the latest country to propose a ban on crypto, I know it's a possible ban that will affect crypto in general, but to be honest I'm pretty sure Bitcoin is definitely their main target in all of this as it's the crypto that most governments see as a "threat" to their complete dominance over their citizens financial activities, see this excerpt below:
I know there's prolly no way Bitcoin can become the most used currency in the world in place of Fiat, and I know quite a lot of people are of the view that the government do not actually feel threatened by Bitcoin, but personally I think they are, they are mostly worried by the "be your bank" option Bitcoin offers its users, and it's something quite a lot of people are starting to understand its importance, and I also believe CBDC's were launched in reaction to the growth of Bitcoin, to convince people that it's a digital currency like Bitcoin, which it's not. They also plan to impose sanctions on crypto exchanges, see this excerpt below:
I believe all of this is just a calculated attempt to forestall Bitcoins growth and development, but just as has been the case in previous scenarios of Bitcoin ban, it would prolly only have an ephemeral effect on the price of Bitcoin, but in the long run would be inconsequential. What do you think would come out of this?

Full news: https://cointelegraph.com/news/pakistan-s-central-bank-reportedly-wants-to-ban-crypto