Crypto Regulations in Afghanistan

When the Taliban again rose to power in August 2021, Afghanistan faced global sanctions that led to many international organizations and money transaction services halting operations in the country. This made room for digital currencies and stablecoins to be widely used, at least to send or receive remittances. However, according to the provincial news website ATN-News, the Taliban government recently banned cryptocurrencies and has arrested 16 local exchanges in the northwestern city of Herat in the past week.

Source: Cointelegraph

The Taliban still haven’t announced any regulations or bans regarding digital currencies. If a top Islamic scholar says that crypto is haram (forbidden), the Taliban would ban it “without thinking twice,” Rahnavard said. If they consider it halal (permissible), “we might use the best tech in the world, forever,” he added.

Source: Cointelegraph

Afghanistan and digital assets Da Afghanistan Bank’s ban on digital assets had been predicted by some religious scholars, according to the Bloomberg report. The scholars argued that the Taliban would ban the asset class because it is considered “haram,” or forbidden to Muslims as it has elements of wagering.

Source: Coingeek

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In June, Afghanistan’s Taliban-led central bank reportedly banned online foreign exchange trading. A spokesman told Bloomberg the bank considers forex trade illegal and fraudulent, and “there is no instruction in Islamic law to approve it.” It isn’t clear whether cryptocurrency trade, specifically, fell under the remit of that ban.

Source: Block Works

Kabul, Afghanistan–The first time Sulaiman Bin Shah used crypto was as a Fulbright scholar in California. He had been hearing about the decentralized coins for some time and wanted to try them out.

Source: Alijazeera

Law enforcement in Afghanistan has shut down over a dozen crypto exchanges in Herat, detaining the people who were running them. The offensive comes after the introduction of a ban on online foreign exchange that the Taliban seem to have applied to coin trading as well.

Source: News Bitcoin

Afghan law enforcement agents reportedly closed at least 16 cryptocurrency platforms in the western province of Herat. The operation comes three months after the current Taliban government imposed a ban on digital asset trading activities. It is worth noting that the change in the political regime in Afghanistan last year caused economic uncertainty in the area. Interestingly, the instability prompted some locals to convert their fiat currencies into digital assets and stablecoins.

Source: Crypto Potato

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