Bitcoin Forum

Is bitcoin legal in Pakistan?? In future is there any chance of decenteralization of bitcoin in Pakistan ??

yes it is legal....

I have not heard so much about developments in Pakistan in respect to Bitcoin and cryptocurrency in general but I am hoping that the government has already allowed its open trading (selling and buying) and that it is not blocking just like what China did last year. I understand that the market in Pakistan can also be big just like its adjourning sister country India and hope that there would be no fierce critics that will use their religious influence to thrash Bitcoin into the garbage bin.

The legality of bitcoin in various countries became an interesting topic. I always read about the news of bitcoin legality in various countries, including pakistan.
and lastly I read, that: Due to the growing Cryptocurrency tendency especially Bitcoin, now investors in Pakistan are demanding the government to pass a law on Cryptocurrency to explain everything.
well .. hope that can be realized, hopefully bitcoin be legal in pakistan.

I think there is no news yet regarding legality of btc in this country. Well, for me this is another good thing for btc if government in Pakistan will announce it as a legal crypto currency in that place. So far the only what I am sure is that crypto currency has make a room already in Pakistan for managing it to attract investors and the fact that it is growing it will be a great reason to receive the honor of being legal.

There is a difference between making things legal, in which the government imposes some laws on its legality, and allowing it. I believe that Pakistan has no problem with allowing people to use bitcoin as long as it is for legal purposes. Therefore, selling and buying is also allowed. Added to that, I do believe they have to allow it because there are many poor jobless people. They have found bitcoin to make their lives better.

when we look at it in general, it is not seen that the states are fully sanctioned and in this respect they are in legal condition. I do not think it will be a problem for Pakistan either

Bitcoin is legal in Vietnam, ever in Vietnam to develop electronic currency

It is neither legal nor illegal in the Pakistan too,so you can hold or trade the bitcoins until the governments decides it is legal or illegal in their country.And I know there are many crypto traders from Pakistan who do this is their only job.Bitcoin is always decentralized no one can control it anyway.

Yes, it is legal and depends on the law of your country.

Different country has a different law and also different perception on bitcoin, luckily our country did not against on bitcoin no declaring whether it is legal but not illegal. Legalities are having too many processes to become a legal that's might the reason why my government still quite on this crypto.

Exactly, it depends on which country you are.

It depends upon the country where you live. If bitcoin is accepted in your country then yes it's legal and if your country has announced as bitcoin is illegal then yes it's illegal. I would voice out as why should usage of a currency called as legal or illegal when the currency uplifts the life of any who uses it.  Even fiat currency is used for legal and illegal move.  So consider the fact. Just don't value that using bitcoin is illegal. Just invest cleverly and gain profit.

Is it profitable to mine BTC now ?

it is still a matter of debate by the government there which is reportedly the economy is going forward and if bitcoin goes to pakistan then bitcoin will grow rapidly there so pakistan need some rules to regulate it but the government there is still hesitant to legalize the bitcoin developing there.

What do you think of the legal aspects of grounding a firm with various crypto activities (e.g. pools, content management etc.)?

Is there any common standard or preferable countries to do such activities?

Hmm, I don't think so. I've read an article about this and find out that cryptocurrency in general is banned in that country. I am not sure if that is 100% legit but seems it does because other websites tell also the same. Here's the link: https://ambcrypto.com/bitcoin-btc-and-other-cryptocurrencies-banned-in-pakistan-notice-by-state-bank-of-pakistan/. I hope this helps :).

@OP ~ No offense sir but next time try to conduct yout own reasearch since this your question is only one click away from the answer, that's how Internet so powerful ;D.

I dont know exactly whether it is legal or ilegal in pakistan. Some says it is legal some says it is ilegal. Legal or ilegal it depends upon the country and the government  you resides. In my country it is neither legal nor ilegal, government just announced that close the account of the people who had transaction with cryptocurrency. Now many countries accept cryptocurrency as legal but at same time it is ilegal in other countries.

I've seen Pakistani's who are asking this and not sure on their government's current stand about bitcoin.

But there's a recent news as given by Navi_027 that the State Bank of Pakistan warns people about transactions that are being done with cryptocurrencies.

Source: https://www.geo.tv/latest/189931-sbp-issues-warning-against-cryptocurrency-transactions (https://www.geo.tv/latest/189931-sbp-issues-warning-against-cryptocurrency-transactions)

Yes, It is legal and I hope government of Pakistan making a accurate decision about Bitcoin open trading in future.

Bitcoin is neither legal nor illegal in Pakistan.In Asian countries,bitcoin is illegal in China.Bitcoin is neutral in India and illegal in Bangladesh.If you are from Pakistan,you can inverse in bitcoin  and cryptocurrency.You no need to worry,since bitcoin is not  illegal in Pakistan.May be in future,pakistan government will take some decision about cryptocurrency.

Maybe we can consider them in the gray area but it doesn't look good for Pakistan crypto enthusiast because similar to India, the Pakistan Central Bank has issue a memorandum regarding a ban on dealings with cryptocurrencies. And even their local trading exchanges Urdubit, have close already. So that prohibition is very quick, so the status of bitcoin and crypto is in limbo but it really does have a bleak future in Pakistan.

But I think India is going to legalize the crypto currency usage in their country since there is some article says that 18% taxes will be collected on the crypto earnings.So Pakistan also might follow the same in my opinion because of neighboring country.But I don't understand the concept of banning crypto currencies because we know they can't completely stop the crypto usage so they have to make benefits from it rather than trying to control it.

Most government may think twice before decide to accept bitcoin but if your government liberal enough, I think bitcoin will not a problem or your government even legalize bitcoin as well.
As for now , bitcoin value already stable on $ 7000 , it means that bitcoin demand still high because some country already legalize bitcoin !