Pahalgam Assault is currently a topic of discussion all over the world. Where the recent terrorist incident in Pahalgam, Kashmir has not only shocked India, but it has also caused huge damage to the image of Pakistan at the international level. The ruthless killing of 26 Indian tourists on the basis of religion by Pakistan -backed terrorists has created anger worldwide. This attack has marginalized another important issue, that is Pakistan’s dream of becoming a crypto hub. Although Pakistan has taken many strategic steps in this direction, but after this attack, its ambition seems to be tarnished now.
Formation of PCC and Pakistan’s Crypto Vision
Pakistan recently Pakistan Crypto Council (PCC) is established which is led by Finance Minister of Pakistan Muhammad Aurangzeb. The aim of this council is to develop Crypto and blockchain technology in the country under a legal framework. This includes State Bank of Pakistan, SECP and many other government departments. The main objective of PCC is to create a safe, responsible and innovative crypto ecosystem.
Additionally, Pakistan is also preparing to enter Crypto Mining. The government is considering giving attractive electricity rates to mining companies for the use of Surplus Electrical Energy. At the same time, appointing Binance founder Changpeng Zhao (CZ) as a strategic advisor to Pakistan has been considered a major international step in this direction.
Pahalgam Assault’s International Impact
The Pahalgam attack has severely affected the image of Pakistan at the global level. India has already started strong criticism of Pakistan on the United Nations and other international forums regarding this attack. On the one hand, while the diplomatic situation of Pakistan has weakened, on the other hand, the trust of investors planning to invest in Pakistan has also started to waver.
No international investor would like to put up his funds in a country where terrorism is openly supported and human rights are being violated. This situation directly affects the possibilities of becoming Crypto Hub of Pakistan. Along with this, pressure on experts and businessmen like CZ can also increase to distance from Pakistan.
How can Republic of India weaken Pakistan’s dream
India can use this opportunity to isolate Pakistan from Global Crypto Landscape. Some strategic steps by which India can shatter this dream of Pakistan:
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Pressure on Binance India: India can increase the ban or investigation on the Indian branch of Binance by making the appointment of CZ an issue, which has to distance the CZ from Pakistan.
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Criticism of Pakistan at G20 and FATF levels: India can raise the issue on international forums that a pro -terrorism nation should not be given global recognition for digital finance.
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Crypto Framework Spices: India can attract global investors towards India instead of Pakistan by accelerating its crypto regulation.
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Subsidy and cooperation to the web3 and blockchain sector: If the government gives both policy and resources to this sector, India can become a major crypto and blockchain destination in Asia.
Pakistan’s Crypto Technique Danger
Efforts by Pakistan Crypto Council can succeed only when the political and security situation of the country is stable. But when terrorist activities are increasing in the country on the one hand and on the other hand, this dream can remain a fantasy. No matter how important the appointment of an expert like CZ is, but if the International Community does not believe in Pakistan, then no crypto hub can be made.
Energy crisis, lack of foreign exchange and political instability in Pakistan were already making this effort difficult. Now after the Pahalgam attack, another big shadow of terrorism has started hovering over all these problems.
Conclusion
While Pakistan is isolated on the world stage due to terrorist attacks and instability, India has a golden opportunity to establish itself as the center of global crypto and digital finance. India has a clear, transparent and innovative for this Cryptocurrency The policy has to be adopted which not only attract investors, but also show that India is a responsible digital nation.
If India makes its policy strong at this time, it can not only thwart Pakistan’s crypto dream, but can also establish its decisive role in the Global Digital Finance Industry. The Pahalgam attack is not only a human tragedy for Pakistan, but has also surfaced as a deep injury for its digital future.
