Pakistan Heading closer to legalise Crypto.
Crypto is world's biggest reality of the day and getting storming adoption around the globe. Hundreds of projects with successful launch along with stable players like BTC , BCH and Ethereum. Although it is risky but highly decentralised technology base digital currency deepening his paws in world.
Pakistan is 3rd high populated country in Asia and has 47% young guns who has great interest in Crypto. Especially in Corona days it get wings and now every one talking about it. If I see just couple of years back the behaviour of government treasury officialls were so rude and brutal towards Crypto but ice melting now
A high level meeting held yesterday in SBP where PTA , FBR and FIA also join in conversation. The glamorous and happy news are all stakeholders agreed on to change the regulatios and laws accordingly to make legalisation of Crypto in the country and initially going to imposing 15% tax on Crypto trade. The news.bitcoin.com also verified this progress earlier this week.
According to simple calculations Pakistan can generate $90 millions from this tax annually which will be increased in both sides later. May go to 20% or 30% as India and other countries doing , also users , merchants and exchanges will grow by time which will fill the treasure more over.
The official press release of the meeting also hinting that very soon they are fulfilling the order of Sindh High court in which they ordered to do so. Soon after the announcement the Crypto enthusiastic people gain a welcome addition.
Another company announced to launch an app with name " JAANLO" in November after looking initiative of the officials. They are looking a massive investment in this sector. Everyone knows first come first took rule applies and earlier entrance to Pakistani market will allow them to get the maximum share of users.
FBR has concerns over mechanism of collections the tax but hopefully they will comes up to solutions. We have lot of uncertainty in political field as no permanent government we have yet. So may it delay little further but once SBP approved it , further will be easy to get it.
It is million dollars question in mind of my country fellow that if Pakistan legalise it what we will get extra then now. Any thing legalised in any country gives freedom of use. Crypto will give us ,
No fear in mass investment , transactions & P2P exchange.
It Will generate thousands of jobs in electronic cash payments , merchants and trade.
It Will ease doing business.
It Will boost business & development.
It Will increase Crypto Usage as alternative payment methods.
It Will reduce the financial pressure from normal banking system.
It Will save our time as it works instantly.
It will enhance flow of payment with more safety & accuracy and freedom.
It will give us banking services 24/7 under our fingertips.
It will increase opportunities in services providing sector.
It will increase use value , store value , utility of BCH & other crypto.
I am waiting badly that when I will be able to buy a pizza with BCH in my country. Hope soon we will witness it.
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