MOITT Opposes Cryptocurrency Ban as it Hinders hinders Pakistan’s development process

Cryptocurrency has become the talk of the town for the last two years. However, with the boom of this tech, the government posed a ban on crypto trading which was not welcomed by youth who were earning big through this. Also, Waqar Zaka, who has remained quite vocal about bitcoin stood along with fellow to oppose the Cryptocurrency Ban. Now, Federal Minister of Information Technology and Telecommunication Aminul Haque opposed the ban on cryptocurrency in Pakistan.

He said that the ban on cryptocurrency is delaying the development process in Pakistan so he will always oppose any policy that comes in the way to the prosperity of Pakistan. When asked about his involvement in the matter of ban, he said that he is not directly involved in the issue and that this matter rests with the Federal Board of Revenue (FBR) and the State Bank of Pakistan (SBP). He also added that he is ready to provide personal assistance to this matter if it gets approval.

MOITT Opposes Cryptocurrency Ban

Also, he was not happy about the advance tax on the telecom sector and revealed that he had opposed it in the cabinet and the parliament. He talked about the rollout of 5G which is expected to take place between the end of December 2022 and January 2023.

No doubt, Amin Ul Haque has always remained vocal about the new technological interventions in the country and their adoption. While cryptocurrency is also one of them, the matter of ban is yet to be finalized once again keeping in view the transformations throughout the world. It should also be mentioned here that many people in Pakistan also fell prey to the frauds associated with Cryptocurrency due to which PTA banned many Cryptocurrency Portals.

Also Read: PTA to Block Cryptocurrency Portals to Avoid Potential Frauds

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Fizza Atique

Fizza Atique is a Tech writer specializing in the intersection of tech and culture. She likes photography, VR, electronic music, coffee, and baking.

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