Pakistan Encourages Governmental Adoption Of Cryptocurrency

The recent resolution passed by Pakistan relentlessly encouraged the government to legalize cryptocurrency adoption in the country. The Khyber Pakhtunkhwa assembly was one of the first to issue a legal adoption of cryptocurrency and its mining in Pakistan. The group passed the resolution on December 2, adequately discussing how the resolution will improve the country.

How digital regulation discouraged citizen ownership of cryptocurrency

The people noted that the legal issues on cryptocurrency had discouraged full adoption by its citizen, so the government has to legalize it for the public. On Twitter, the man who pushed the resolution, Sumera Shams, informed the people of the assembly’s resolve in the province.

Shams declared that he authored the whole notion and was delighted with the anonymous passing in the North-West region. He shared drafts of the recently passed resolution through his handle. Shams revealed that it was on its way to bring digitization to the country and ensure that Pakistan could compete with the world.

Zia Bangash also joined in the new development by sharing it on his Twitter handle the signed resolution for cryptocurrency and crypto mining. Amongst the crowd advocating for the federal government to adopt cryptocurrency in the country, Waqar Zaka, a cryptocurrency enthusiast, has been a front runner in encouraging speedy legalization.

Coming hearing on cryptocurrency might spearhead adoption

The video jockey wanted a legalized ownership of cryptocurrency in the country. Zaka shared his hearing date on the digital asset petition, which will take place on December 17. The petition might be a significant push in the country. The Pakistan government has to respond to the new petition adequately, or the government might lose the case, followed by the full adoption of cryptocurrency in the country.

Based on new advocacy and influence on social media for the resolution of cryptocurrency, the advocates might have the upper hand, following the assembly’s support to adopt the currency. Regarding the increasing pressure on the government, analysts have explained Zaka’s struggle to ensure crypto ownership. Blockchain technology has been in demand in many countries, with legalized governmental support to hasten and encourage its citizens to trade crypto. The United Arab Emirates recently revealed its plans to include blockchain technology for its financial aspect by 2021.

A media outlet also condemned the nation’s level of digitization as it encouraged Zaka’s advocacy. The outlet explained that Pakistan did not have access to some popular services like Paypal due to its archaic digitalization laws. Regarding the hearing, the government is expected to appear on December 17, even with the Khyber Pakhtunkhwa’s recent resolution.

Zaka reported that even though his hearing date is December 17, he hopes to speed up faster adoption. He believes that the new cryptocurrency regulations will work to create more immense business opportunities. The advocate revealed that the hearing with be presided by two members of the court. The two legal practitioners are Kausar Sultana and KK. Agha. Many sources have reported the cybercrime authority in Pakistan as illegal and taking the millions worth of cryptocurrency on the guise that the digital asset was unlawful in the country, he added.