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Waqar Zaka is Pakistan’s one-man army. He’s fighting cryptocurrency ban

Waqar Zaka

Waqar Zaka is Pakistan’s one-man army. He’s fighting cryptocurrency ban

Pakistan is experiencing a cryptocurrency movement lead by Waqar Zaka, On Twitter, a ‘crypto influencer’ and TV host who has become a hero for many people online.

Pakistani Twitter hashtags include #TechnologyMovementDharna, #youthwantscrypto, and #IstandWithWaqarzaka.

In 2019, Zaka had filed a petition in Sindh High Court for legalising crypto currency in Pakistan. The case resulted in the formation of a committee headed by State Bank of Pakistan deputy governor Sima Kamil.

On Wednesday, the committee in its report recommended a total ban on cryptocurrency, according to a news reports.

Zaka has accused the government of censoring his voice against the crypto ban because it does not want to legalise decentralised money in the country.

“I am getting strange calls from unknown numbers that I should not appear in Sindh Court tomorrow, for Crypto currency ban case otherwise I will be put in jail as  @ImranKhanPTI is against crypto. Do whatever you want, I will appear tomorrow”

In a another video message, Zaka vowed to attack Islamabad’s D-Chowk (Democracy Chowk) in protest of the impending cryptocurrency ban if all legal avenues are closed.

“Sir @ImranKhanPTI you are driving the youth to express their strength through #TechnologyMovementDharna,” Zaka stated in another tweet, portraying as a saviour of the crypto industry. No one should be concerned; as long as I am alive and the government does not file false charges against me, I will not allow Crypto to be banned. However, it’s disappointing to see @ImranKhanPTI’s digital policy.”

Many Pakistanis believe that cryptocurrency is the answer to their financial troubles. Inflation is high, debt is high, and the country’s foreign reserves are poor.

“Innovation is essential to help Pakistan out of this financial catastrophe,” one person said.

@ZakaWaqar has a solution to the crisis. This necessitates Pakistan’s legalisation of cryptocurrency. @ImranKhanPTI Sir, I respectfully beg that you at least consider this proposal.”

For Pakistanis, Zaka is a hero who puts his own comfort aside for the sake of the people. Some have even declared him Pakistan’s next Prime Minister.

While China, Russia, Turkey, Egypt, Qatar, Vietnam, and Bangladesh have outright outlawed cryptocurrency trading, the United States, United Kingdom, Australia, and the European Union are still working on rules. El Salvador became the first country to recognise Bitcoin as legal cash on September 7, 2021.

 

Some Pakistanis, however, regard crypto as a requirement for a “digital Pakistan,” even calling it their only hope, while others see it as a new technology that will help them compete with the rest of the world. “We want crypto, not just because we can gain money by trading, but also because it’s a new technology that we need to master so we can compete with the rest of the world,” a user named “Ali Zia” commented.

Another Twitter user, named ‘foreign user’, called the Pakistani prime minister an ‘ideat’.

“@ImranKhan,” another user wrote, referring to Zakar as “a one-man army.” PTI is hesitant to take a risk because of the foreign stakes involved. Only men like you have the confidence to stand up and take bold actions. “A single-man army”

 


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