ChainCatcher reported that the Taliban government in Afghanistan has effectively banned Bitcoin and cryptocurrency trading across the country and has threatened to prosecute traders and related businesses. In Herat, more than 20 crypto shops have been shut down, while at least 13 traders were reportedly arrested. The report also said Afghanistan’s monthly crypto inflows have fallen from a peak of more than $150 million to less than $80,000. After the country was largely cut off from the global banking system, Bitcoin and stablecoins had served as important tools for savings and remittances. Taliban officials described digital assets as fraudulent and said cryptocurrency speculation is comparable to gambling under Islamic law. Despite the crackdown shrinking Afghanistan’s visible crypto market, Bitcoin can still be traded through the internet, private keys, and counterparties.
ChainCatcher reported that the Taliban government in Afghanistan has effectively banned Bitcoin and cryptocurrency trading nationwide and has threatened to prosecute traders and related businesses.
In Herat, more than 20 crypto shops have been closed, and at least 13 traders were reportedly arrested. Afghanistan’s monthly crypto inflows have also fallen from a peak of more than $150 million to less than $80,000.
Crypto had been used for savings and remittances
After Afghanistan was largely cut off from the global banking system, Bitcoin and stablecoins had become important tools for savings and remittances. Taliban officials said digital assets are fraudulent and argued that cryptocurrency speculation is comparable to gambling under Islamic law.
Even with the crackdown reducing Afghanistan’s visible cryptocurrency market, Bitcoin can still be traded through the internet, private keys, and counterparties.
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