Pak crypto deal with links to Trump, Asim Munir under scrutiny in India & US: Report
A recent report has raised eyebrows in both India and the United States, highlighting a deal between Pakistan’s newly formed Crypto Council and US-based World Liberty Financial (WLF). The deal has come under scrutiny due to its links to the Trump family and Pakistan’s Army Chief, Asim Munir.
According to the report, US President Donald Trump’s sons, Eric and Trump Junior, and son-in-law Jared Kushner, collectively own 60% of WLF. This has raised concerns about potential conflicts of interest and the timing of the deal. The report highlights that Pakistan Army Chief Asim Munir personally welcomed US officials who came to sign the deal, further fueling speculation about the nature of the agreement.
The Crypto Council, established in October 2022, is a Pakistani government-backed initiative aimed at promoting the country’s crypto industry. The partnership with WLF is seen as a significant development in Pakistan’s bid to establish itself as a major player in the global crypto market.
However, the deal has attracted attention in India and the US due to its alleged connections to the Trump family. The involvement of Donald Trump’s family members in WLF has raised questions about potential conflicts of interest and whether the deal was influenced by their relationship with the Trump administration.
The report highlights that the deal was signed despite Pakistan’s struggling economy and the country’s history of poor financial management. The country’s crypto industry is still in its infancy, and experts have expressed concerns about the potential risks involved in investing in cryptocurrencies.
Pakistan’s crypto industry is relatively new, with the first cryptocurrency exchange, Axiomatic, launched in 2020. Since then, several other exchanges have emerged, but the industry is still largely unregulated. The deal with WLF has sparked concerns about the lack of transparency and regulation in Pakistan’s crypto market.
The involvement of Asim Munir, Pakistan’s Army Chief, in the deal has also raised eyebrows. Munir has been a key figure in Pakistan’s military establishment for several years and has been involved in various high-profile diplomatic missions. His involvement in the crypto deal has sparked speculation about the potential benefits he may receive from the agreement.
The report highlights that the deal has been criticized by several experts and opposition parties in Pakistan, who have raised concerns about the lack of transparency and the potential risks involved in investing in cryptocurrencies. The government has defended the deal, stating that it is a step towards promoting Pakistan’s crypto industry and attracting foreign investment.
The deal has also sparked a debate in India about the potential risks involved in Pakistan’s crypto industry. India has been cautious about its approach to cryptocurrencies, with the Reserve Bank of India (RBI) banning the use of cryptocurrencies in 2018. However, the country has since reversed its stance, with the Supreme Court ruling that cryptocurrencies are not illegal.
The report highlights that the deal has sparked concerns about the potential for money laundering and terrorist financing through Pakistan’s crypto industry. The country’s weak financial regulations and lack of transparency have raised concerns about the potential for illicit activities.
In conclusion, the deal between Pakistan’s Crypto Council and WLF has sparked concerns in India and the US due to its links to the Trump family and Pakistan’s Army Chief, Asim Munir. The deal has raised questions about potential conflicts of interest and the timing of the agreement. The involvement of Asim Munir and the Trump family has sparked speculation about the potential benefits they may receive from the agreement. The deal has also raised concerns about the potential risks involved in investing in Pakistan’s crypto industry, including the potential for money laundering and terrorist financing.
