You have heard that Govt. of Pakistan is going to legalize #Cryptocurrency but no one told you real facts.
Here is full explanation what sanctions Pak government is going to apply on Crypto?
First of all I want to clear a thing here that Pakistan has not approved it yet. It is just a proposal by State Bank Of Pakistan that they sent to Federal Government. If Federal cabinet approve it then it will be forwarded to Parliament. If most of Parliament members agree with it then this proposal will be converted into legal tender. Here is what this proposal contains:-
1. In regarding of fintech technology usage (AI & Blockchain, etc.) Crypto currency should be legalize. This proposal designed to compete internationally in finance system.
2. Just like other Crypto currency we should launch our on Crypto coin PKR that will be backed by Pak Government. We decided to take this step to control fake currency notes. In this way usage of fake currency will be reduced by 80% due to of " original " property of Blockchain. Note: No PKR Crypto Currency launched yet. All are fake tokens.
3. We should setup a separate team that monitor transactions and detect fraudulent and moneylendering amount and take action against them. For that we will develop a AI technology based software that will be able to differentiate between orignal and fake transaction. It will detect and report to the team and team will take action on it.
4. If any Crypto currency deployed illegally without permission then the owner must be fined by twice of token/coin total net worth.
5. We want to legalize Crypto currency under section 25 part 24 . It is the same section that allow to print paper currency. We took this decision under national laws and this proposal will be considered as legal proposal.
It is what SBP sent in form of proposal to Pakistan Government. No tax implications suggested yet. But I think they will apply Capital Gain Tax . Here is what we are expecting in form of tax.
May they implement 15% capital gain tax for holdings less then 1 year same like stocks and reduce it to 0% for holding that exceeds 6 years. That is not stated in proposal but expected as it was implement on stocks and bonds in same form. Maybe this proposal take upto 2-4 months to get approved and implemented. That will be good decision if this proposal get approved.
What you think will Pakistan Government approve it or reject must tell in comments. Don't forget to like and follow.
Important Announcement
Lolcat enthusiasts can transfer their lolcat from the base platform to Solana through the following link:
https://t.co/X1nYFhOuKO
Please transition to the $solana chain as soon as possible.
The #lolcat project has transitioned from $base to the $solana network. If you belong to the $lolcat or $catpay community, please transfer your funds to the $solana network as soon as possible.
Be cautious of scammers—no one from our team will send you direct messages or offer assistance during this migration process. If someone contacts you for help, they are likely a scammer.
The #catecoin pump is expected to be significant according to our analysis, and the reasons for this are as follows:
- 40% of the supply has been burned.
- The BNB pool contains just 1% of the total supply.
- Both the ETH and Base pools hold only 0.35% each.
- In total, all pools represent about 1.7% of the entire supply.
- Gate and MEXC exchanges account for merely 0.9% of the supply combined.
- A purchase of $500K could activate the entire $cate ecosystem.
Buy $cate on any chain total supply is fixed 60,000,000,000,000 (60T) CATE
$CATE Giveaway 🚀
Rules:
-Comment #catecoin in this post
-Follow and RT this post
-Any comment without reply or 🩷 is winner.
3 random winner will Get 100$ worth $CATE
Timeline- 48HR
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#MovieBloc #Telegram #Airdrop #Event
We will revise our strategy for promoting #cate. Currently, we intend to renounce the contract, reduce the tax rate to 0%, and migrate liquidity to V3.
#memecoin
Hey there!
Just a quick update: the staking wallet currently holds 0.87%.
It seems that only 590 wallets have transferred their #catpay to the new contract.
We kindly ask all of you to remove your stake and swap it to the new contract as soon as possible.
Thanks!
🔴Catpay Migration Update
Some users have reported an issue where token balances within some wallets are being rounded, producing inaccurate decimal values that cause a migration error. We have updated to migration app to address this scenario. Even so, we want to provide you with a manual work-around.
If you encounter this issue, please follow these steps:
1. Setup a second wallet in addition to the wallet that contains your v1 Catpay tokens.
2. Transfer your v1 Catpay to the new wallet, excluding any decimals (E.G. If you hold 1000.123456 tokens, only transfer over 1000 tokens (and not .123456).
3. Once you receive the v1 Catpay in the new wallet, you can connect this wallet to the migration app and execute the conversion to v2 Catpay tokens. Ensure that the new wallet also contains enough BNB for the migration txn.
Or you can wait next 10-12 hour for us to fix this issue in dapp
If you encounter any other issues, please visit the TG channel for assistance: https://t.co/3xDG9fp6jj
🔴We encourage everyone to migrate as soon as possible.
Hey there!
Just wanted to give you a heads up that we're in the process of migrating catpay to a new contract. If you're a catpay hodler, we kindly request you to unstake your tokens from the staking contract. Oh, and by the way, we've set the penalty to 0, so no worries there!
-All issue related to https://t.co/M0eokNRfCp is fixed.
We wanted to let you know that the swap portal will be closing soon, so please make sure to login and swap your #catpay asap. It's important to take care of this before it's too late. Also, if you could kindly share this message with all the other users, we would greatly appreciate it!
🔴Important project update!
Today we are ready to begin the next phase of #CATPAY!
This will be a multi step process that will lead to Catpay’s deployment on the #Solana and #Base networks.
The first step is to reduce the supply of $CATPAY tokens to 1/10,000 the current supply by removing four 0’s. This will increase the token price by 10,000x making it more readable — the value of users holdings should be unchanged.
This change requires a migration to a v2 contract that also separates CATPAY tokens from CateCoin contracts.
v2 CATPAY contract:
0x64f69b696c4275c879b1ee370f852ca5765bde24
Prior to migrating, users should unstake all their tokens. To avoid issues we will also temporarily disable token trading.
To migrate to the v2 token, please follow the steps here: https://t.co/M0eokNRfCp
🎁 Giveaway!!! 🎉
$200 worth $CATE on @Base 😻 at launch price
2 #BaseChain wallet will be picked at random!
Please perform the following steps:
➡️ Follow @CateCoin 🐈
➡️ Quote/RT this tweet, add this message:
$CATE is launching on #Base! 🚀.
➡️ Drop your wallet address in Comment
CateCoin is planning to relaunch the #Catepad (#launchpad). Making $CATE the only memecoin with its own launchpad. That is unique in crypto!🐈🚀
#CateCoin successfully launched the $Catpay token at the end of the last bull run. Now the launchpad scene is waking up and CateCoin aims to be at the centre of the next wave of the action. Catepad launches will be one more BIG driver of awareness and demand for $CATE #memecoin #cats