The famed social media sensation, Waqar Zaka, who had has filed a petition in Sindh High Court (SHC) asking for ending ban on cryptocurrency in Pakistan, said that Pakistan’s first digital currency will support the government without any compensation.
While talking to media officials, Chairman Technology Momvement Pakistan (TMP) Waqar Zaka said that the TenUp has developed a currency for the use of State Bank of Pakistan (SBP).
He added that this currency will eliminate the need for PayPal as it allows you to make the fastest transactions in the world.
TMP Chairman further added that now it is the responsibility of the government to implement this currency as soon as possible.
Earlier, Waqar Zaka had thanked the chief justice for hearing the case regarding the importance of cryptocurrency. In a video message, he expressed his joy that he is about to achieve success and cryptocurrency will be unbanned in Pakistan.
Justice Muhammad Iqbal Kalhoro heard the petition regarding the ban on digital currency. In his remarks, Justice Muhammad Iqbal Kalhoro questioned about not using digital currency in the current era.
The court also expressed anger at the State Bank of Pakistan for not allowing cryptocurrency. Justice Muhammad Iqbal Kalhoro remarked that the world has come a long way in modern technology and we stand still in old ages.
Judge asked why the cryptocurrency is circulating all over the world and only banned in Pakistan.
Waqar emphasized that people would have earned at home in this situation through the use of cryptocurrency if it was made legal. He also clarified that cryptocurrency does not promote money laundering, it promotes trading and business. But even PayPal has not been stabilizing in the country.
Furthermore, he added several countries, including India, have also legalized cryptocurrency. Pakistan is the only country which has imposed ban on it.
What is TenUp?
As per the official website, TenUp Nation is powered by the community and is poised to help entrepreneurs in raising funds for their projects while helping refugees and the unbanked globally.
TenUp will achieve these goals by using the disruptive power of blockchain technology and unlike other blockchain projects, TenUp is built to serve the needs of an important and long-neglected audience.