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Taliban bans cryptocurrency

Cryptocurrency traders are being arrested by the Taliban in Afghanistan after the country’s central bank banned trading in digital assets.

As Crypto Easy reported, when the Taliban took power in August last year, many citizens, especially women, found Bitcoin and other cryptos a form of refuge for their money.

Taliban bans cryptocurrencies

«The central bank has given us an order to stop all traders, individuals and entrepreneurs from trading fraudulent digital currencies like Bitcoin, » he said.
As Saadaat reported, 13 people have already been arrested in the country. In addition, they have already shut down 20 companies operating in Herat city that offer services with digital currencies. Herat is the third largest city in the country and a hub for cryptocurrency trading. According to a recent study by crypto company Triple-A, Afghanistan ranks 38th among the countries with the highest percentage of citizens using cryptocurrencies.
As per the company’s data, there are more than 1 million Afghans with access to digital assets.

Cryptocurrency ban

In February this year, the Taliban said they would assess the possibility of allowing crypto trading within the financial practices of Islam. The United Arab Emirates, for example, has allowed crypto-active trading in the Dubai Free Trade Zone since September 2021. In December 2021, the country approved Binance’s operations in its territory.

With the decision, Afghanistan joins China when it comes to banning activities with digital assets.

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