- The central bank of Afghanistan ceased the use of crypto for three months.
- The police of Afghanistan has started striking crypto services, platforms and businesses.
The cryptocurrency snatched publicity in Afghanistan in 2021 when the country had economic issues during the Taliban acquiring Afghanistan in May 2021. After the Taliban got power, the United States forced sanctions due to which purchasing crypto got tough, with western jurisdiction terminating billions of the assets of the country.
After some time, the central bank of Afghanistan ceased the use of crypto for three months. The police of the country started a strike on crypto services platforms and businesses, pressuring them to stop crypto-related activities.
According to the local media channel of Afghanistan, Ariana news, security forces closed 16 crypto exchanges over Afghanistan’s western Herat area over the last seven days and imprisoned their employees also. Moreover, police banned the local crypto businesses and shops as using the digital assets was proclaimed illegal. Sayed Shah Sa’adat, the head of counter crime unit of Herat police stated;
“The central bank of afghanistan said in a letter that virtual currency trading has invited many difficulties and is doing frauds, thus they need to be shut down. We took action and imprisoned all the exchangers linked to the business and shut their shops.”
However, the names of captivated crypto exchanges are not known.
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The statement of head of Money Exchangers Union
According to the head of the Money Exchangers’ Union of Afghanistan, Ghulam Mohammad Suhrabi, also gave unpleasant statements about the use of cryptocurrencies and elaborated;
“ digital currency accounts are not inside the country and are bought from the firms. Our citizens are not very aware of it, so it is a good option to boycott it. This currency is currently new and possesses vulnerability.”
In line with a report of Bloomberg from June 28, the central bank of Afghanistan ceased virtual foreign exchange trading calling it “illicit and fake, and there is no order in Islamic law to accept it.”
The Afghan media channel also cited the point of view of an expert in the news who adjourned cryptos are still new to people and thus the activity should be looked at by the government due to which scams can be stopped and people can invest more excellently.”
Source: https://www.thecoinrepublic.com/2022/08/26/afghan-police-terminated-16-crypto-exchange-in-the-last-seven-days/