24-12-2021

Governments involving in crypto doesn't make sense to me and when el Salvador make bitcoin a legal tender in their country their intentions was to make their country strong and better with it. Give peoples opportunities but somehow isn't it's like more centeralised this way.

Anyways I've always heard every country is confused and yet no one make a clear decision regarding crypto but government in my country is in too hurry.

Because they're totally against crypto from past many years there's a ongoing case in court regarding this issue but now things are going worst and it can become more worst in coming days.

So today's topic is about on going situation regarding crypto trading and government crackdown.

I thought they're nothing just rumors

It was about when i was not into crypto but that time I've always heard that peoples are going to jail because they're trading crypto or they're mining it was about few years back

Even though previous year i heard a person ordered hardware wallet to secure his asset got into jail so this was all happening few years back

Peoples was scared and i thought these are nothing just some rumors or nothing to worry about but now I'm realising it will be too worst if this happen again.

No plans to allow cryptocurrency in my country

Few days back i heard this bad news from minister of information saying no plans to allow cryptocurrency which is totally unexpected when whole world is taking their time making laws for this system and thinking about future meanwhile our country is always ready to go back in stone age

Peoples got screwed hearing this statement and it was childish act from government because they're losing billion of dollars.

But it's okay because living in a country which is too backward we already got no paypal,no tesla,no star link and many popular things in my country so i always knew it is going to happen soon.

Also Pakistan is in top 3 most crypto holding in world so peoples are still into it and few days back got to know more than 20billion dollars worth assets have been into crypto which is more than state bank reserves actually but still no plans to allow crypto but peoples ain't gonna listen them.

It was okay and i ignored it but didn't thought what's coming next.

Crackdown against crypto trading

I thought no need to worry about let's just keep going with the flow and just a day or two days back heard about crackdown catching peoples and things are going worst

Then i did some research and got to know many reason why they're doing this but wait first let me tell you what they're doing.

Blocking credit card and bank accounts

Whoever is involved in this business are mostly facing issue some peoples bank accounts are being suspended and some peoples credit cards have been blocked because of trading crypto

As you can see above after doing complain regarding why account is being blocked or suspended because of being involved in unauthorized business mean making crypto transactions.

I've seen many witnessed who are forced to not trade anymore in crypto because bank account got suspended and credit card is blocked

But there's some reason why they're doing this first crypto isn't illegal here we cannot buy through banks and not paying any tax coz government it self don't want peoples to pay tax and they're not making any law.

Reason they're stopping peoples

There's few reason behind this and how easily they're tracking those person who are involved in crypto business and according to them it's illegal business.

Those who are buying and selling crypto assets is illegal which mean trading on P2P is totally illegal and accounts will be suspended or blocked if a person got traced.

Now we cannot buy USDT or sell USDT through p2p coz we will got track binance is always ready to sell our data and also p2p is easy to get location of home coz every detail is already given there.

Reason P2P is Illegal

Peer to peer is illegal because we are buying an asset like USDT from a person might be having black money or more chance of money laundering from one country to another

Example anyone is earning from crypto sending money to another country isn't legal

Buying USDT from out of country and sending money there isn't legal coz no one know from whom I'm buying he has black money or white so it's also risky and illegal

Anyone doing p2p business like selling and buying too much USDT on daily basis in big quantity is the reason behind crackdown.

Don't buy from banks also don't buy p2p

According to situation nowadays banks aren't allowing to buy directly or sell our asset directly and now they're forcing peoples to leave p2p as soon as possible otherwise we'll have to face them

So simply they don't want peoples to buy and sell or hold any crypto.

Without doing anything Illegal thing it might be safe from past couple of weeks i didn't used p2p and it's only way to cashout fiat otherwise no other way except moving from this country.

We always faced issue cashing out from crypto to fiat or while depositing into crypto

Because no banks allow us and only way is p2p where peoples set rates of USDT according to their own choice just like you've seen in above screenshot 1usdt rate is more like 188pkr meanwhile 1usd rate is only 177 we are paying 10 extra Ruppee also whenever we are cashing out it mean we are selling it little lower according to buyer demand so it's totally unfair and hope things might become easier in future.

Anyways I'm not worried at all will always stay in safe side not going to listen or hear anything bad going on i know how to face challenges easily so I'm ready for everything and only focusing to start new year with some big expectations.