Bitcoin is the most popular currency in the world. Some time back Bitcoin value surged from $570 to $4,000. Now the value of Bitcoin has gone even higher. A single Bitcoin is worth $6,000. The market capitalization of the virtual cryptocurrency becomes $100 billion.
In Pakistan Bitcoin is illegal. If any individual is found with Bitcoin, he/she will be dealt in court. State Bank of Pakistan has clearly stated that currencies like Bitcoin are not allowed in the country.
FIA, the Federal Investigation Agency started taking action against OneCoin and Bitcoin, once State Bank of Pakistan declared these currencies illegal in Pakistan. The action against the cryptocurrencies will start from Lahore and then it will be implemented worldwide. The reason for all this activity is not made clear.
The ironic point is that in midst of all this, PITB is backing up support to “Earn with Bitcoin” an event at Arfa Kareem Technology Park, Lahore. In this event, people will be taught and trained about how to earn via Bitcoin. This whole situation proves that all government authorities have not unanimously taken the decision to ban Bitcoin.
The trade of Bitcoin is increasing in Pakistan as per a tax official. Cash is used to trade Bitcoin in the country. How, where and when all this is happening remains a mystery.
This is the era of cryptocurrencies. As per reports Dubai and India might soon launch their own cryptocurrencies called Lakshmi and emCash. China, on the other hand, has banned Bitcoin while Malaysia might soon make Bitcoin part of its economy.