Waqar Zaka Shares Alarming News on Cryptocurrency
The Pakistani cryptocurrency wizard took to his Twitter account to warn the local cryptocurrency holders that Binance is going to be banned in Pakistan next week
Waqar Zaka has shared alarming news for the cryptocurrency holders in Pakistan that Binance is getting banned in Pakistan in the next four days.
Binance is the largest cryptocurrency exchange in the world in terms of the daily trading volume.
Waqar, known as the Pakistani cryptocurrency wizard, took to his Twitter account to warn the local cryptocurrency holders.
“All Pakistani users must check with authorities and transfer funds”, he said in the tweet and provided the phone number of the Security Exchange Commission of Pakistan (SECP).
In Pakistan @binance is getting banned in next four days , you don’t believe me ? Call at (021) 99213271 ask @SECPakistan , @cz_binance , all Pakistani users must check with authorities and transfer funds
— Waqar Zaka (@ZakaWaqar) October 15, 2021
It has worried hundreds of thousands of Pakistani cryptocurrency holders as funds worth millions of rupees are invested in the exchange which they use to purchase and sell digital currency.
Waqar Zaka had approached Sindh High Court (SHC) on the legalization of cryptocurrency in Pakistan.
In the last hearing on October 5, the high court had sought the answer from the finance ministry, State Bank of Pakistan (SBP), and Security Exchange Commission of Pakistan (SECP) on why cryptocurrency was not allowed in the country.
Read Also
Government Ready to Hand Over ‘Winter Gift’
Rising Interest Rates Jolting Businesses Badly
The court had observed the digital currency was becoming a popular mode of transaction around the world under the regulations of central banks and exchange commissions. SHC had remarked that Pakistan should move with the time.
The next hearing of the case is due on October 19.
