Unban Bitcoin in pakistan | Bitcointalksearch.org

MCobian

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Quote from: FIFA worldcup on May 09, 2021, 04:36:51 AM

Quote from: nagoarif on May 06, 2021, 02:50:36 AM

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.
What's your analysis? How BTC market will affect by this? is this charming news for crypto lovers from Pakistan?

There are so many small countries around the world where there no legal status of crypto currencies and i think Pakistan is one of them. It does not matter if they ban crypto, it would only create problem for their citizens. there will be no global impact of it on the overall bitcoin market. On the other hand, if china or US announce such ban, that may have an bad affect on bitcoin.

I agree that there will be no major effect if the Pakistani government legalizes Bitcoin or bans Bitcoin. Because Pakistan is not a big country, which is
capable of making changes to the Bitcoin market. So regarding the status of Bitcoin that is happening in the country of Pakistan, only Pakistanis are
affected. But the global cryptocurrency market will not be affected. But I am very happy to hear that the Pakistani government is starting to
accept cryptocurrency, this means that more countries will accept crypto.

newwest

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Quote from: UmerIdrees on May 09, 2021, 04:43:16 AM

Quote from: nagoarif on May 06, 2021, 02:50:36 AM

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.
What's your analysis? How BTC market will affect by this? is this charming news for crypto lovers from Pakistan?

You are writing this post on May 06. Would you care to tell where the crypto is ban in Pakistan ? Stop spreading the fud.

I am from Pakistan and there is no ban in crypto in Pakistan. We are free to involve in crypto and trading. The legal status of bitcoin is unclear but Pakistan has started work on legalizing bitcoin and other cryptocurrencies since last year.

Thanks for getting this cleared else unnecessary it would create a panic around users who are not much and just invested initially and would suddenly start to sell creating some panic situation in crypto market. Quite a few government are still in dilemma and working towards if we can give legal status then how it can be done and what could be the negative impact if any.

shahzadafzal

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Quote from: UmerIdrees on May 09, 2021, 04:43:16 AM

Quote from: nagoarif on May 06, 2021, 02:50:36 AM

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.
What's your analysis? How BTC market will affect by this? is this charming news for crypto lovers from Pakistan?

You are writing this post on May 06. Would you care to tell where the crypto is ban in Pakistan ? Stop spreading the fud.

I am from Pakistan and there is no ban in crypto in Pakistan. We are free to involve in crypto and trading. The legal status of bitcoin is unclear but Pakistan has started work on legalizing bitcoin and other cryptocurrencies since last year.

Exactly you are right, it was never banned... actually there is a fine line between "ban" and no "official stance"... so currently there is no official stance on Bitcoin/Crypto currencies from State Bank of Pakistan.

And if you are talking about FIA (Federal Investigation Agency) they are after crypto currency only to put checks on "money laundering" or any criminal activates... if you stay out of these you are good here and that implies every where not only in Pakistan.

In reality as of April 10, 2021 Sate Bank of Pakistan is actually studying digital currency.

here are some more authentic sources

SBP studying digital currency, says Baqir
State Bank never declared cryptocurrency illegal, SHC told
The State Bank of Pakistan has not declared crypto currency illegal, a joint director of SBP told the Sindh High Court /url]

UmerIdrees

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Quote from: nagoarif on May 06, 2021, 02:50:36 AM

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.
What's your analysis? How BTC market will affect by this? is this charming news for crypto lovers from Pakistan?

You are writing this post on May 06. Would you care to tell where the crypto is ban in Pakistan ? Stop spreading the fud.

I am from Pakistan and there is no ban in crypto in Pakistan. We are free to involve in crypto and trading. The legal status of bitcoin is unclear but Pakistan has started work on legalizing bitcoin and other cryptocurrencies since last year.

FIFA worldcup

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Quote from: nagoarif on May 06, 2021, 02:50:36 AM

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.
What's your analysis? How BTC market will affect by this? is this charming news for crypto lovers from Pakistan?

There are so many small countries around the world where there no legal status of crypto currencies and i think Pakistan is one of them. It does not matter if they ban crypto, it would only create problem for their citizens. there will be no global impact of it on the overall bitcoin market. On the other hand, if china or US announce such ban, that may have an bad affect on bitcoin.

Leviathan.007

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I can see recently many governments are doing taking everything hard for bitcoiners sadly pakistan is one of them. But don't forget a few things.

- Any governments can suspend any exchange from local exchanges to bitcoin. But there are still people trading bitcoins in social networks such as telegram or even face to face methods and no government can make them stop. However, by doing so and suspending the official local exchanges there will be many scammers and frauds abusing this situation and this is the government's fault.

- Cryptocurrencies are progressing in all over the world and many countries are entering the market. While some other like pakistan will stay away from it. Obviously, they will feel regret soon because they are losing this golden opportunity.

- Considering the current interest in the market, banning cryptocurrencies will not make people to stop using it in long term and there will be many underground crypto deals in countries where bitcoin or crypto is not allowed.

nagoarif

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Quote from: quocsi on May 06, 2021, 06:57:11 AM

This is good news for the people of Pakistan. They can invest in bitcoin and become rich. The bitcoin market is increasingly expanding. But besides that it creates opportunities for criminals to function. Money laundering, black credit will flourish in this country. The Pakistani government will work hard to make bitcoin work.

nagoarif

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Quote from: Charles-Tim on May 06, 2021, 06:31:39 AM

Quote from: tranthidung on May 06, 2021, 04:56:12 AM

If there are effects, it would be local effects, in your nation first. Then, if your nation has a big role and effect, it will in turn affect the global market. I don't know much about your nation but it seems that your nation does not have big communities for Bitcoin & crypto.

It is not about local or international effect, Pakistan is not a country like USA or China that have the economic power, if cryptocurrencies is legalized in China today, the price of cryptocurrencies will increase just because of how China is, also if bitcoin is banned in USA today, the price of each coins will reduce.

But in countries like Pakistan, what you need to know is about their interest in cryptocurrencies, also about the recent crypto trading volume in the country. Cryptocurrencies were banned in country like Nigeria, but no reduction in trading volume in the country, other countries do not even care, and crypto prices were not that affect at all.

Are Pakistanis still trading after the ban should be the question, if they are trading just like Nigeria are still trading crypto after the ban, the price may not really be affected immediately. Also with how the country is, I do not think if crypto are legalized in the country will result to any significant effect on bitcoin price.

I remembered when India legalized crypto, not long that South Korea also legalized it within the same week, but crypto prices were not affected positively at the time, which can be a sign that the citizens were even trading cryptocurrencies during the ban.

nagoarif

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Quote from: tranthidung on May 06, 2021, 04:56:12 AM

Quote from: nagoarif on May 06, 2021, 02:50:36 AM

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.

UsefulTulips.org
LocalBitcoins and Paxful Pakistani rupee (PKR) Combined Volume over years. From the spike on chart, it seems your government banned crypto circa 2018. Is it correct?

Yes you are right

TastyChillySauce00

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if the unbanning didn't benefit the government themselves by any mean I doubt they really gonna unban it after all as you mentioned the news is still uncertain but if they truly do then it's really good.
Though after the ban I'm pretty sure the trading volume in there not gonna be that much which means it's not gonna affect bitcoin market that much, still a good start for the neighboring countries to follow as well.
If they can see the opportunity behind crypto they will surely unban it but sometimes lawmakers view clouded by other political interests.

n786

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Maybe soon

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Quote from: maxreish on May 06, 2021, 07:45:33 PM

Hopefully, the government will reconsider and unban it in their country. If they may see that bitcoin can also be at help in increasing the economic growth of their country and can also help their people to engage in such new technology that also benefits them.

But then again, of course I believe each country has own beliefs and own jurisdiction about a particular thing. If majority of the government officials reconsider to unban it, there is a big chance that Pakistan will go back into trading activity.

Pakistanis will take it as BTC being legalized and will make more transactions related to BTC like p2p. The Chinese ban BTC for a long time yet we can see they are still buying BTC, it didn't stop them from investing in BTC. I think the government had seen that it only make the people interested instead and most likely they see more people engaged in it instead.

maxreish

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Hopefully, the government will reconsider and unban it in their country. If they may see that bitcoin can also be at help in increasing the economic growth of their country and can also help their people to engage in such new technology that also benefits them.

But then again, of course I believe each country has own beliefs and own jurisdiction about a particular thing. If majority of the government officials reconsider to unban it, there is a big chance that Pakistan will go back into trading activity.

Blitzboy

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Is it true? Can you provide us the source of this information. If they really unban cryptocurrency, it is truly a good news for bitcoin community. Yet, this is not a big news since Pakistan is not a big country. But there might be whales using this news to manipulate the current market

Zemomtum

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Bitcoin has been banned and unbans in several countries and there has been no negative effect since it is global and decentralized and one country cannot hold it to ransom. Until Government at all cadre quickly adapt and switchgear to digital form of payment, the drawback will be huge on any that is holding back. Digital currency is here to stay and to save the life from scrutinization

arapgeceleri

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that's what it should be. The imposition of bans against crypto makes me angry. I do not understand why people are rich, the expansion of this market and the support of the state is not wanted so much. I am sure the people of Pakistan are very happy about this. this could mean new investors and new records in the crypt money market.

nightrider

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It's a wonderful thing! The Pakisran government was rightly wrong to lift the Bitcoin ban in their country. It allows Pakistani citizens to invest in bitcoin. They can get rich quickly. People's lives here will be developed. Then the bitcoin market will expand. Bitcoin's value will hit new heights.

dikistutmazsabri

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I think it is not a very correct decision for Pakistan to ban bitcoin. Some countries are biased towards bitcoin. and this, I am sure, upset the people living in that country. Some states are considering banning bitcoin and other cryptocurrencies due to events such as fraud. but such risks are things that can happen in all areas. states can enact regulations instead of prohibiting them. that would be a better decision.

jinxing

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Quote from: nagoarif on May 06, 2021, 02:50:36 AM

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.
What's your analysis? How BTC market will affect by this? is this charming news for crypto lovers from Pakistan?

For local Pakistani residents this might be interesting news because the government is able to cancel the cryptocurrency ban, but for all crypto users, this will only be a discussion and will not affect market price movements

sunsilk

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The government will never know who are those keep on transacting with the use of bitcoin.

They might have banned it and if there is another rumor that soon they will lift the ban, then it is much better if that's the news.

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