Pak crypto deal with links to Trump, Asim Munir under scrutiny in India & US: Report
In a shocking development, a deal between Pakistan’s barely month-old Crypto Council and US crypto firm World Liberty Financial (WLF) has come under scrutiny in India and the United States. The deal has raised several eyebrows due to its links to US President Donald Trump’s family, as well as the Pakistan Army chief, Asim Munir.
According to reports, the deal involves a significant investment by WLF in Pakistan’s crypto industry, with the US firm acquiring a majority stake in a Pakistani crypto startup. However, what has sparked controversy is the fact that US President Donald Trump’s sons, Eric and Trump Junior, and son-in-law, Jared Kushner, collectively own 60% of WLF.
The deal has been criticized for its potential impact on Pakistan’s economy, as well as the country’s already fragile financial situation. Critics have expressed concerns that the deal could lead to a surge in speculative investments in the Pakistani crypto market, which could ultimately lead to a bubble burst and significant losses for investors.
Moreover, the involvement of Asim Munir, the Pakistan Army chief, has raised questions about the deal’s potential implications on Pakistan’s national security. Munir personally welcomed US officials who came to sign the deal, which has sparked concerns about the potential for conflicts of interest.
The deal has also raised questions about the transparency and accountability of the Pakistani government, as well as the regulatory framework in place for the crypto industry. Critics have argued that the deal was rushed through without proper scrutiny, and that the Pakistani government has failed to provide adequate safeguards to protect the interests of investors.
In India, the deal has sparked concerns about the potential impact on the country’s own crypto industry. Indian authorities have been cautious in their approach to regulating the crypto market, and the deal has raised questions about the potential for regulatory arbitrage.
The Indian government has been under pressure to introduce stricter regulations on the crypto industry, and the deal has raised concerns that Pakistan could become a haven for crypto firms looking to avoid Indian regulations.
In a statement, a spokesperson for the Pakistani government said that the deal was a “major step forward” for the country’s crypto industry, and that it would help to attract foreign investment and create jobs.
However, critics have argued that the deal has been rushed through without proper scrutiny, and that the Pakistani government has failed to provide adequate safeguards to protect the interests of investors.
The deal has also sparked concerns about the potential for money laundering and terrorist financing. Critics have argued that the anonymity of crypto transactions makes it easier for criminal elements to launder money and finance terrorist activities.
The US government has also expressed concerns about the deal, with a spokesperson saying that the deal would be subject to strict scrutiny to ensure that it complies with all relevant laws and regulations.
In conclusion, the deal between Pakistan’s Crypto Council and World Liberty Financial (WLF) has sparked controversy due to its links to US President Donald Trump’s family, as well as the Pakistan Army chief, Asim Munir. The deal has raised questions about the potential impact on Pakistan’s economy, as well as the country’s already fragile financial situation. Critics have also expressed concerns about the potential for regulatory arbitrage, money laundering, and terrorist financing.
