Pak & Bitcoin Suffer from Bad PR: CEO of Pak Crypto Body Linked to Trump-Backed Firm
Pakistan and Bitcoin have been facing a wave of bad publicity in recent times, with many people associating the country with conflict and the cryptocurrency with scandals and controversies. But the CEO of Pakistan Crypto Council, Bilal bin Saqib, is now speaking out against this negative perception, claiming that both Pakistan and Bitcoin have been “misrepresented” and are victims of bad PR.
In an interview with News18, Saqib said that Pakistan and Bitcoin are often judged based on the lens of conflict and controversy, which is unfair and inaccurate. He believes that both have been misrepresented and that it’s time to set the record straight.
“Pakistan and Bitcoin have both suffered from bad PR,” Saqib said. “People see Pakistan through the lens of conflict, terrorism, and political instability, which is not accurate. Similarly, Bitcoin is often associated with scams, hacking, and other negative activities, which is not representative of the entire ecosystem.”
Saqib’s comments come at an interesting time, as the Pakistani cryptocurrency watchdog, which is linked to the Pakistan Crypto Council, is facing a Senate inquiry over its deal with US-based firm World Liberty Financial. World Liberty Financial is backed by US President Donald Trump, and the deal has raised eyebrows in the crypto community.
The Pakistani cryptocurrency watchdog was established in 2019 to regulate the country’s growing crypto market. However, the watchdog has faced criticism over its lack of transparency and accountability, with many calling it a “toothless tiger”.
The deal with World Liberty Financial has only added to the controversy, with many questioning the watchdog’s motives and the potential benefits of the partnership.
Saqib, however, remains optimistic about the partnership, saying that it will help promote Pakistan’s crypto industry and bring in foreign investment.
“The partnership with World Liberty Financial is a positive step forward for Pakistan’s crypto industry,” Saqib said. “It will help bring in foreign investment and expertise, which will benefit the entire ecosystem. We’re committed to promoting transparency and accountability in the industry, and this partnership will help us achieve that goal.”
However, not everyone is convinced by Saqib’s optimism. Many have criticized the Pakistani government’s handling of the crypto industry, citing a lack of regulation and oversight.
“The Pakistani government has failed to provide a clear framework for the crypto industry,” said a crypto expert, who wished to remain anonymous. “The lack of regulation and oversight has led to a Wild West-style environment, where anyone can operate without accountability. The partnership with World Liberty Financial is just a Band-Aid solution to a much larger problem.”
Saqib, however, remains committed to promoting Pakistan’s crypto industry and addressing the negative perception surrounding it.
“Pakistan and Bitcoin are not victims of bad PR, but rather victims of misinformation,” Saqib said. “We’re committed to promoting transparency and accountability in the industry, and we’re working closely with international partners to achieve that goal. We’re confident that with time, the negative perception surrounding Pakistan and Bitcoin will fade away, and the industry will continue to grow and thrive.”
In conclusion, Pakistan and Bitcoin have indeed faced a wave of bad publicity in recent times. However, the CEO of Pakistan Crypto Council, Bilal bin Saqib, believes that both are victims of bad PR and are being misrepresented. While the partnership with World Liberty Financial has raised eyebrows, Saqib remains optimistic about the potential benefits it will bring to Pakistan’s crypto industry. Only time will tell if Pakistan and Bitcoin can overcome their negative image and thrive in the crypto landscape.
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