Pak crypto deal with links to Trump, Asim Munir under scrutiny in India & US: Report
A deal between Pakistan’s barely month-old Crypto Council and US crypto firm World Liberty Financial (WLF) is under scanner in India and US, reports stated. The deal has raised eyebrows due to its alleged links to US President Donald Trump’s family and Pakistan Army chief Asim Munir.
According to a report by NDTV, the deal was signed in November, and Pakistan’s Crypto Council was established just a month prior to that. The council is responsible for regulating and promoting the country’s crypto market.
What has raised concerns is that US President Donald Trump’s sons Eric and Trump Junior, and son-in-law Jared Kushner collectively own 60% of WLF. The report suggests that this close connection to the Trump family has led to scrutiny from both Indian and US authorities.
Notably, Pakistan Army chief Asim Munir personally welcomed US officials who came to sign the deal. This has added to the controversy, with many questioning the motives behind the deal and the role of the Pakistan Army chief in facilitating it.
The deal, reportedly worth millions of dollars, aims to promote Pakistan’s crypto market and attract foreign investment. However, critics argue that the deal may have ulterior motives, given the involvement of Trump’s family members.
The report highlights that Pakistan’s Crypto Council has a reputation for being loosely regulated, and the country’s lack of experience in dealing with cryptocurrencies has raised concerns about the safety and security of investments.
In a statement, WLF denied any wrongdoing, stating that the deal was transparent and followed all necessary regulatory formalities. The company also emphasized that it had undergone thorough due diligence before signing the agreement.
Despite WLF’s statement, the deal has sparked controversy in both India and the US. Indian authorities have expressed concern over the deal’s potential impact on the country’s financial markets, while US regulators are investigating whether the deal violated any anti-money laundering or terrorism financing laws.
The controversy surrounding the deal has also raised questions about the role of Pakistan’s Crypto Council and its relationship with Asim Munir. Critics argue that the council’s lack of transparency and accountability has led to a lack of trust in the Pakistani crypto market.
In conclusion, the deal between Pakistan’s Crypto Council and WLF has raised concerns in India and the US due to its alleged links to Trump’s family and Pakistan Army chief Asim Munir. While WLF has denied any wrongdoing, the controversy surrounding the deal highlights the need for greater transparency and accountability in the Pakistani crypto market.
