IT Minister Opposes the Ban on Cryptocurrency

Ban on cryptocurrency

Federal Minister for Information Technology and Telecommunication (IT) Syed Amin Ul Haque on Wednesday hostile the ban on cryptocurrencies withinside the country. Ban on Cryptocurrency was opposed by the IT minister.

Talking to the media, the minister stated that the Ministry of Information Technology and Telecommunication opposes this type of ban which hinders development.

The Federal Board of Revenue (FBR) and State Bank of Pakistan (SBP) are worried withinside the count number associated with cryptocurrency, stated the minister, including that the ministry is prepared to offer technical help if it gets clearance from each institute.

He regretted the implementation of increased tax at the telecom zone whilst pronouncing that it turned into hostile via way of means of him withinside the cupboard and parliament. The talks on the problem of withholding tax are underway with the Finance Ministry, Haque added.

The minister stated that they need to lessen the withholding tax at the telecom zone from 15 percent to ten percent.

Read More: Complete Ban On All Cryptocurrency In Pakistan

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The minister in addition stated that TikTok is prepared to install a workplace in Pakistan. We desire to take Twitter, Facebook, and PUBG on board as well, he added.

He stated that the production of smartphones in Pakistan is a progressive initiative. We desire those large agencies to come to Pakistan.

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