Crypto Ban in Afghanistan by Taliban, Dealers of Tokens Arrested

According to a senior police official, the Taliban government has arrested many dealers who disobeyed orders to halt selling digital tokens after Afghanistan’s central bank issued a statewide ban on cryptocurrencies this month. Following some Afghans’ use of cryptocurrencies to protect their riches and keep it out of the Taliban’s hands, there has been a crackdown. Due to sanctions placed on the militant group, the country cuts off from the international financial system. It has turned to cryptocurrency as a common means of transferring money within and outside the nation. Crypto Ban In Afghanistan In the wake of a market crisis that destroyed $2 trillion in value and sent some well-known companies into bankruptcy, nations from Singapore to the US are strengthening cryptocurrency rules, but outright bans are much less common. Afghanistan has joined China in outlawing cryptocurrency transactions, which did in September 2021. Syed Shah Saadat, head of criminal investigations at the police headquarters in Herat, “The central bank gave us an order to stop all money changers, individuals, and businesspeople from trading fraudulent digital currencies like what is commonly referred to as Bitcoin,” Afghanistan Among Top 20 Countries To Use Crypto Afghanistan was one of the top 20 countries in the world in terms of cryptocurrency usage last year by blockchain research company Chainalysis. Results favor poorer countries based on purchas...