ChainCatcher reports that the Taliban government in Afghanistan has effectively banned Bitcoin and cryptocurrency transactions nationwide, threatening to prosecute traders and related businesses. More than 20 crypto shops in Herat have closed, and at least 13 traders are reported to have been arrested. Afghanistan’s monthly cryptocurrency inflows have dropped from a peak of over $150 million to less than $80,000. After being largely cut off from the global banking system, Bitcoin and stablecoins had become vital tools for savings and remittances. Taliban officials have labeled digital assets as fraudulent and consider cryptocurrency speculation equivalent to gambling under Islamic law. Although these actions have significantly reduced the visible cryptocurrency market in Afghanistan, Bitcoin can still be traded via the internet, private keys, and counterparty arrangements.
Afghanistan Taliban Government Bans Bitcoin and Cryptocurrency Transactions
ChaincatcherShare
Summary
Afghanistan’s Taliban government has banned Bitcoin and cryptocurrency transactions, targeting traders and businesses with potential prosecution. More than 20 crypto stores in Herat have closed, and at least 13 traders have been arrested. Monthly crypto inflows have dropped from over $150 million to under $80,000. Bitcoin and stablecoins had become essential for liquidity and crypto market activity after the country was cut off from the global banking system. Taliban officials cite Islamic law, labeling crypto speculation as gambling. While the crackdown has reduced public activity, Bitcoin trading continues through online channels and private keys. This move occurs amid global speculation surrounding Bitcoin ETF approval.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.