Pak & Bitcoin Suffer from Bad PR: CEO of Pak Crypto Body Linked to Trump-Backed Firm
In a recent interview, Pakistan Crypto Council CEO Bilal bin Saqib made a bold claim: that Pakistan and Bitcoin have both suffered from bad public relations. He believes that the negative perception surrounding both entities is due to misrepresentation and a lack of understanding. However, this assertion comes at a time when the Pakistan Crypto Council’s partner, World Liberty Financial, is facing a Senate inquiry over its deal with the Pakistani cryptocurrency watchdog.
The Pakistan Crypto Council, which is responsible for regulating the country’s cryptocurrency market, has been under scrutiny for its close ties with World Liberty Financial, a firm backed by US President Donald Trump. This has raised concerns about the potential conflict of interest and the impact it may have on the Pakistani cryptocurrency market.
In the interview, Saqib attempted to whitewash Pakistan’s image by claiming that the country has been “misrepresented” by the media and the public. He argued that people see Pakistan through the lens of conflict, which has led to a negative perception of the country. Similarly, he believes that Bitcoin has also been misunderstood and misrepresented, leading to a negative public perception.
However, this attempt to shift the focus away from the issues at hand has been met with skepticism by many. Critics argue that Pakistan’s poor record on human rights, corruption, and terrorism has contributed to the negative perception of the country, and that the same issues may be present in the country’s cryptocurrency market.
The deal between the Pakistan Crypto Council and World Liberty Financial has also raised eyebrows. World Liberty Financial is a firm that has been accused of using its connections to manipulate the cryptocurrency market. The firm’s CEO, Brian Kelly, has been vocal about his support for Trump and has even appeared on Fox News to discuss the president’s views on cryptocurrency.
The Senate inquiry into the deal is focused on ensuring that the Pakistani cryptocurrency market is being regulated fairly and transparently. The inquiry is also looking into allegations that World Liberty Financial may have used its influence to manipulate the market and profit from the deal.
Saqib’s claims about Bitcoin and Pakistan being victims of bad PR may have some merit, but they do little to address the underlying issues surrounding the Pakistan Crypto Council and World Liberty Financial. The real issue is not that Pakistan and Bitcoin are being misunderstood, but rather that they are being used as a means to further a political agenda.
The Pakistani government has a history of using its institutions to further its own interests, and the Pakistan Crypto Council is no exception. By partnering with World Liberty Financial, the council has given the impression that it is more interested in lining its own pockets than in regulating the cryptocurrency market fairly and transparently.
The negative perception surrounding Pakistan and Bitcoin is not just due to misrepresentation, but also due to the country’s poor record on human rights, corruption, and terrorism. The Pakistan Crypto Council and World Liberty Financial must be held accountable for their actions and ensure that the Pakistani cryptocurrency market is regulated in a fair and transparent manner.
In conclusion, while Saqib’s claims about Pakistan and Bitcoin being victims of bad PR may have some merit, they do little to address the underlying issues surrounding the Pakistan Crypto Council and World Liberty Financial. The real issue is not that Pakistan and Bitcoin are being misunderstood, but rather that they are being used as a means to further a political agenda. The Pakistani government and the Pakistan Crypto Council must be held accountable for their actions and ensure that the country’s cryptocurrency market is regulated in a fair and transparent manner.
