Pak & Bitcoin Suffer from Bad PR: CEO of Pak Crypto Body Linked to Trump-Backed Firm
Pakistan and Bitcoin have long been plagued by negative publicity, and it seems that the situation is far from improving. In a recent statement, Bilal bin Saqib, the CEO of the Pakistan Crypto Council, attributed the poor image of his country and the cryptocurrency to “bad PR.” However, this excuse may not be enough to salvage the reputation of Pakistan and Bitcoin, especially considering the recent controversy surrounding the country’s cryptocurrency watchdog and a US-based firm backed by none other than President Donald Trump.
According to reports, Pakistan’s cryptocurrency watchdog has entered into a deal with World Liberty Financial, a US-based firm that has received backing from Trump. The deal has raised eyebrows, with many questioning the legitimacy of the partnership. To make matters worse, the US Senate has launched an inquiry into the matter, further muddying the waters.
Pakistan’s Crypto Council CEO Blames Bad PR
In a recent statement, Bilal bin Saqib, the CEO of the Pakistan Crypto Council, blamed the country’s poor image on “bad PR.” According to Saqib, Pakistan and Bitcoin have been “misrepresented” by the media and the public, with many people viewing the country through the lens of conflict.
“We have suffered from bad PR, and people have a misconception about Pakistan and Bitcoin,” Saqib said. “We are trying to whitewash Pakistan’s image and show that it’s a peaceful country with a strong economy.”
However, the CEO’s statement may be seen as an attempt to deflect attention from the real issues plaguing Pakistan’s cryptocurrency industry. The country has faced numerous challenges, including corruption, lack of regulation, and limited infrastructure, all of which have contributed to a toxic environment for investors and businesses.
Pakistan’s Cryptocurrency Watchdog in Controversy
The Pakistan Crypto Council’s statement comes as the country’s cryptocurrency watchdog, the Securities and Exchange Commission of Pakistan (SECP), is facing scrutiny over its deal with World Liberty Financial. The SECP has been accused of lacking transparency in its dealings with the firm, and many have questioned the legitimacy of the partnership.
World Liberty Financial, which has received backing from President Trump, has been accused of being involved in a number of questionable activities, including money laundering and fraud. The firm’s deal with the SECP has raised concerns that the partnership may be used to facilitate illegal activities, such as money laundering and terrorist financing.
US Senate Launches Inquiry
In response to the controversy surrounding the SECP’s deal with World Liberty Financial, the US Senate has launched an inquiry into the matter. The inquiry is seeking to uncover more information about the partnership and whether it poses a risk to national security.
“We are concerned about the potential risks posed by this partnership, and we need to get to the bottom of it,” said a senior US official. “We will do everything necessary to protect the interests of the American people and ensure that our national security is not compromised.”
Conclusion
Pakistan and Bitcoin have long been plagued by negative publicity, and it seems that the situation is far from improving. The country’s cryptocurrency watchdog has entered into a deal with a US-based firm backed by President Trump, and the US Senate has launched an inquiry into the matter. The CEO of the Pakistan Crypto Council has blamed the country’s poor image on “bad PR,” but this excuse may not be enough to salvage the reputation of Pakistan and Bitcoin.
As the controversy surrounding Pakistan’s cryptocurrency industry continues to unfold, it remains to be seen how the country will recover from the negative publicity. However, one thing is clear: Pakistan and Bitcoin need to take immediate action to address the real issues plaguing their industries, including corruption, lack of regulation, and limited infrastructure.
Only by taking concrete steps to address these issues can Pakistan and Bitcoin hope to improve their reputations and attract more investors and businesses to their industries.
