Taliban Imposes Nationwide Ban on Crypto to Curb Speculation

Taliban Imposes Nationwide Ban on Crypto to Curb Speculation

After repositioning itself as a authorities in Afghanistan, the Taliban is taking motion to curb crypto hypothesis within the nation. According to a senior police officer, after Afghanistan’s central financial institution imposed a nationwide ban on crypto, the division has detained 13 crypto sellers this month. 

In an interview, Sayed Shah Saadaat, head of legal investigations on the police headquarters in Herat said that the transfer got here after some Afghans began to use crypto to protect their wealth and hold it out of the Taliban’s attain.

“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,” he mentioned. 

Talibani authorities has arrested 13 individuals concerned in crypto transactions, who had been launched on bail afterwards. Also, greater than 20 crypto-related companies have been taken down in Herat.

However, Afghanistan is just not the primary nation to impose a whole ban on cryptocurrency as China already clamped down on crypto final 12 months.

Amid civil battle and monetary instability in Afghanistan, blockchain evaluation agency, Chainalysis reported final 12 months that the nation is on the record of prime 20 international locations on the earth by way of crypto adoption. 

To convey monetary stability and revive the nation’s economic system, the Talibani authorities is assessing completely different choices. In February, they claimed to research whether or not digital tokens could be allowed underneath Islamic monetary practices.

Compiled by Coinbold

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