16 petitions

Started 9 months ago

Petition to Supreme Court of Pakistan, State Bank of Pakistan, Miinistry of finance pakistan, Prime Minister of Pakistan, President of Pakistan, Chief of Army Staff Pakistan Army, DG ISI Pakistan, Financial Institutions of Pakistan, Educational Institutions of Pakistan, Ministry of Education Pakistan, Aga Khan Development Network, Pakistan Social Media, Pakistan Press, News Papers of Pakistan, Dawn news, BBC News, Geo News, BOL News, the news, Human Rights, Human Rights Campaign, Government of Pakistan, Hounorable Chief Justice of Supreme Court of Pakistan, Times news

Legalisation of Cryptocurrency and Blockchain Technology in Pakistan.

Bitcoin is not illegal as per existing laws. As per media reports, a parliamentary committee is setup to look into the future legality of bitcoins and cryptocurrencies. Cryptocurrencies offer Pakistan opportunities for innovation and development.Blockchain: It has been accepted worldwide that blockchain technology will be the future for financial institutions. Blockchain cannot work without allowing all parts of the industry - mining and trading of blockchain tokens, that is cryptocurrencies. Remittance: Potential for Pakistan to save US$ 7 billion by using cryptocurrencies for inward remittances. Compare this to US$ 2 billion budget of the Mid Day Meal scheme to feed 120 million poor children.Financial inclusion: Cryptocurrencies can provide modern financial services to the poorest Pakistani at far lower costs.Fintech Hub: With its status as a tech hub, Pakistan  has the potential to be a fintech hub by allowing innovation in future fintech technologies.We wish to develop a responsible industry around this revolutionary technology.Stop bad actors, not the technology: With infrastructure technologies like the Internet, the smartphone and cryptocurrencies, it makes far more economic sense to chase the bad actors (for example, ponzi schemes) rather than shutting down the technology.Cryptocurrencies will be available irrespective and the illegal users do not care about its legal status. Please do not take hasty steps and prevent innovation, economic activity and jobs. This will only stop good uses of cryptocurrencies.

Advocate Zeeshan Ali
2,509 supporters