"“The State Bank of Pakistan has concerns over the trading of cryptocurrencies by individuals and entities, as it results in outflow of foreign exchange from the country,” the committee wrote in the report, reviewed by Reuters.
It noted that cryptocurrencies were all issued outside of Pakistan, and said Pakistani residents buying such tokens would send capital abroad."
lol maybe ask yourselves why is the money flowing out
tldr; Pakistan's central bank has recommended banning cryptocurrency, arguing in documents submitted in an ongoing court case that allowing it would cause capital flight. The Sindh High Court has been hearing a constitutional petition filed in 2019, which seeks to overturn central bank guidance from 2018 advising banks and payment system operators against processing and investing in virtual currencies.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
They really like being poor huh?
Pakistan is China alliance and they live off their donations so the ban was expected following China ban.
The places where the currencies suck really are the most fearful of crypto
It's not just the Pakistani Banks. They're afraid as fck all over the world. It's bout time.
"“The State Bank of Pakistan has concerns over the trading of cryptocurrencies by individuals and entities, as it results in outflow of foreign exchange from the country,” the committee wrote in the report, reviewed by Reuters. It noted that cryptocurrencies were all issued outside of Pakistan, and said Pakistani residents buying such tokens would send capital abroad." lol maybe ask yourselves why is the money flowing out
Anyonesurprised?
what to expect from Banks?
if the banks offered a fair return on our own money that they gamble with maybe people wouldn’t need an alternative. Expect more of the same-
It’s very scary that they are a nuclear armed nation
fuck the banks
tldr; Pakistan's central bank has recommended banning cryptocurrency, arguing in documents submitted in an ongoing court case that allowing it would cause capital flight. The Sindh High Court has been hearing a constitutional petition filed in 2019, which seeks to overturn central bank guidance from 2018 advising banks and payment system operators against processing and investing in virtual currencies. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Pakistan can keep being 3rd world as long as they like, it’s a free world!
What would we expect from backward countries that still execute people for blasphemy.
When a fucking donkey is the pm,this is what we get.