Topic: why is Cryptocurrency not as easy in Pakistan as in other countries (Read 215 times)

I think The Asia counties have similar understanding in cryptocurrency. I haven’t heard any news of arrest in crypto currency uses.They are still Using crypto currency and doing business in crypto currency. Many Pakistani they buy and sell Bitcoin still now.So many Pakistani interesting in cryptocurrency i hope it will be grow in future.

Most of the Asian countries have similar understanding about cryptocurrency. This is all because of the fear of losing control. Another thing, the adoption and acceptance of cryptocurrencies will also lower the corruption. This will indirectly affect the people who are in the higher roles and highly corrupt.

From Pakistan I haven't heard of any news of arrest on cryptocurrency usage. This happened with Bangladesh, and some countries relate it to religion. Pakistan haven't done that which too is a good move in my view.

What do you mean not easy? I saw some pakistani around tje Internet using bitcoin and accepting bitcoin as well even in theei small business.. So why it's hard for you?  You should make research mate if there's something that an stop you owning bitcoin on your country, because to be honest in my view seems pakistan isn't against with crypto like India...

you even understood what OP typed and you're sure it's a question, I've read and reread to catch an understanding on what OP's trying to say but I still can't. The only knowledge I have about this post is the question asked on the subject bar.

I am not talking about buying and selling.
the question is why it is not easy to make money online in Pakistan. Thanks

Pakistan is like other countries in the world that do not want to be open to digital currency technology at this time, their reasons are almost the same as the reasons for many countries that prohibit the circulation of bitcoin, namely as an illegal currency and cannot be used for trade, besides that nature of bitcoin speculative  trigger the central bank fear of the occurrence of an uncontrolled bubble in the market later.
I think so far it is not only Pakistan that has banned the use of bitcoin in their country, Russia, China, Vietnam and several countries in Latin America, despite the ban, I think the public it is still possible to invest in cryptocurrencies especially bitcoins anonymously nowadays, moreover some of these countries still have exchangers that support official currency pairs, but now Pakistan actually has a unique case where the government through the central bank and also the pakistan telecommunications authority stan has blocked almost 1600 cryptocurrency trading sites in the country, so I think this is a pretty big blow for Pakistanis who have had cryptocurrency assets, so maybe they have to go to another country to be able to cash out the assets they have, because automatically after the mass blocking, goverment will also block many local exchanges that support the Bitcoin/PKR pair.

maybe they are afraid because crypto can make their currency weaken, maybe they also follow the steps of their neighbors like India which strictly prohibits crypto money, Vietnam, China also do the same thing with Pakistan, their government strictly prohibits the use of crypto currency because they are afraid of have a bad impact on their economy, they are also afraid that later many of their citizens use crypto currency, money laundering will occur.

They're scared because they can't control it. Bitcoin is decentralized very different from banks. They can see, organize, and control. It's all very much at odds with the Bitcoin system. Even China has blocked all transactions even though it adopted its system by issuing CBDC. It's Russia, but they're putting forward proposals. Indeed, if viewed bitcoin technology requires a very large level of electricity use. It can even exceed the electricity needs in one country in one year.
That's only a fraction of the disadvantage of profiting from crypto, but indeed this development is just beginning I think there will be readjustment for the future and crypto will continue to grow. 

Maybe they are taking a hardline stance like their neighbor India?

Or are they afraid that crypto will have a bad effect on their economy in the long run?

Or maybe they think some bad elements like terrorist will take advantage of crypto's supposedly (psuedo) anonymity that's why they don't approved of it. In short they are afraid that criminals are going to used it and their government will have a hard time chasing them.

Or maybe the bank itself thinks that crypto will destroy them, that's why those old and traditional bankers are afraid of changes like cryptocurrencies.

From your subject if I can get you right, not only in Pakistan that cryptocurrency had been on a tough time, the main idea is in each country's discretion weather to support all crypto related activities or go against them, currently China is ranked first among countries that does not tolerate crypto, we have Egypt, Tunisia, Iraq, Morocco, Nepal to mention few.

The quest is that it was totally ban in China where some other countries does not only support it using their banks for it transactions, meaning it was not legalized by the governments but the citizens still make use of it independently.

You should specify your question. What about cryptocurrencies is not so easy in Pakistan? The purchase? If you mean buying, then unfortunately this is a problem in many countries, especially those where the banking system is not so well developed. Nevertheless, you can also buy locally. There are certainly many in Pakistan who sell bitcoin, albeit perhaps anonymously.

The central bank should make these adjustments to suit the countries mode of running its business.
 
Not really easy but if you have the skills that the market requires you certainly will find employment old or yound because if we live this to be only for the yound it could be another issue of discrimination which is a topic for another day.

Why not educate yourself first to find those solutions which can help you and to your fellow countrymen? Since if you have knowledge on crypto for sure you can able to teach people around you and for sure if they know about it they can also help other then from this you can atleast lessen the unemployed people around you.

Also banking system is expected to hate bitcoin if they really is since they cannot control it and many people slowly skips to use them since some people are slowly shifting to go on cryptocurrencies.

It's because other countries have understand the essentials and benefits of getting into cryptocurrencies. So, even if they won't make policies that would make it favorable to the government but they're at least allowing their citizens to get involved with it.

Are you from Pakistan? and if that's the kind of situation they're having. They really haven't understand yet what cryptocurrencies are and how it can impact the lives of their people from getting involved with it.

In Pakistan, numerous people are doing the bitcoin & cryptocurrency business. They wish that their work and income be recognized and legalized. As there is in their neighborhood, the Indian Government has not only legalized cryptocurrency business but also funded (Bitcoins)their people to join this business and earn through trading. In the future, We have good hopes about it.

In my experience some random statements on the internet reported by news sites is not a reliable source to say whether a country has made a "severe" stance against bitcoin or not. Basically all banks in all countries in the world have made similar statements. For example central bank of Pakistan's western neighbor Iran has been reported by the media to make similar statements, today Iran has 10% of the total hashrate and is officially using bitcoin for import/exports as a legal currency.

To OP: There is a Pakistan topic with your fellow countrymen: https://bitcointalksearch.org/topic/pakistan-232519

The stand Pakistan have taken in accordance with the cryptocurrency transactions were very severe. Because, the authorities like State Bank of Pakistan have argued against the legal status of bitcoin usage in the country. In this they've mentioned the cryptocurrency will never be allowed for the purpose of trade as well. More countries like India, Russia are all on the same category, to make regulations on usage. However this time India hasn't made any big news in it. When something gets blocked always there arise a path. That is how people from these countries keep using cryptocurrencies.

Pakistan’s central bank wants to ban crypto

Why are you putting a question in your title and at the same time do the same thing in your post OP? Shouldn't you be answering why is it hard to have a cryptocurrency in Pakistan and then impose more questions? That's kind of stupid actually for you to do that because there's no basis for us to participate in the thread and end up doing all the hard work when it should be served already.

Because bank and traditional financial systems are bad, we have Bitcoin and cryptocurrency. Check the Bitcoin's Genesis Block

So as time goes on, when banks realize the power of cryptocurrency, they are very fearful and will try their best to prevent the adoption, growth of cryptocurrency. They can try and will keep trying until a day they realize that they can not stop it. Then they will accept the fact and implement more policies, regulations to adapt to unavoidable growth of cryptocurrency.

it's easy what you say buddy, try to provide accurate data so we can give an opinion about crypro in our country