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Waqar Zaka Announced Dharna against Cyrpto Ban

crypto ban

Pakistanis have threatened to stage a ‘technology dharna’ in protest of the crypto ban

Pakistani youth have warned that if the government decides to ban cryptocurrency, they will stage sit-ins to protest the decision. They further stated that if the government enforces the ban, they will not vote for Prime Minister Imran Khan in the upcoming elections.

The youth are threatening to march to D-Chowk in Islamabad for the sit-in, with #TechnologyMovementDharna among the top Twitter trends. Many Twitteratis indicated the amount of persons they will march with all the way to Islamabad from their own cities.

“My hometown is Fort Abbas in Bahawalnagar, Punjab. One netizen stated, “At least 100 people stand with me on my call for Dharna.”

 

Previously, the State Bank of Pakistan (SBP) and the federal government decided to ban all cryptocurrencies from being used in Pakistan. On Wednesday, they also submitted a report to the Sindh High Court (SHC).

Cryptocurrency, according to the study, is unlawful and cannot be traded. It mentioned at least eleven countries that have outlawed crypto, including Saudi Arabia and China.

The report also mentions the FIA’s recent inquiry of crypto exchanges including Binance and OctaFx, as well as the risk these exchanges posed to investors.

The report will be referred to the finance and law ministries for a final determination on the legal status of cryptocurrencies, according to the Sindh High Court.

The law and finance ministries will examine whether a ban on cryptocurrency is permissible under the Constitution. It’s worth noting that there were no clear restrictions on crypto trading previous to the ban.

Waqar Zaka for PM?

Pakistani youth reacted by causing quite a stir on social media. They chastised the government for stifling Pakistan’s technological progress. Furthermore, the youth suggested that rather than prohibiting cryptocurrencies, the government should enact legislation to regulate it.

Among the protests, netizens endorsed Waqar Zaka, a well-known television personality, as the next Prime Minister. To be clear, Waqar Zaka has always been a great proponent of cryptocurrencies and has encouraged the government to make cryptocurrency trading easier in Pakistan on multiple occasions.

It’s worth noting that Waqar Zaka began publicly promoting Bitcoins by mentioning Bit Landers, a social media platform. Waqar Zaka was one of the first Pakistanis to speak at the Blockchain Economic Forum in San Francisco, one of the largest cryptocurrency and blockchain events in the world.

The KPK government granted Zaka permission to build a hydro-power-based ETH mining farm, which is a significant achievement. Zaka established one of the largest crypto mining farms with a USD 200K investment.

Waqar Zaka also waged court battles on his own, with the result that the court issued an injunction prohibiting police from detaining Bitcoin users unless they are involved in unlawful acts like money laundering.

Petitioner Waqar Zaka urged with the court on Wednesday to make cryptocurrencies lawful, claiming that a vast number of Pakistanis were interested in them.


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