Bloomberg: “The Taliban’s crackdown has had a massive chilling effect on the country’s crypto markets,” according to the report, which added that “crypto dealers are left with three options: flee the country, cease operations, or risk arrest.” Afghans turned to virtual coins as a lifeline to receive foreign remittances and donations, as well as to
New Yorker: For crypto-enthusiasts, the blockchain’s potential to create a bank-free utopia is best observed in countries whose economy is, in some way or another, compromised. Despite the cultish grift that has come to define crypto in the United States, a use-case like Afghanistan acts as a sort of paragon of its initial objective: decentralized
cointelegraph: The Taliban have finally banned crypto in Afghanistan, but many users and traders call it one of the “worst” decisions taken by the government so far. With the rise of the Taliban last year in August, Afghanistan faced global sanctions that led to many international organizations and money transaction services halting operations in the
Blockworks: Crypto became critical for some in Afghanistan following the Taliban takeover last year, but authorities are now coming down hard on the local scene, reportedly shuttering at least 16 crypto exchanges in the country’s western Herat province. The move comes three months after Afghanistan banned crypto trading in the country, noted local independent outlet
Al Jazeera: came fascinated with them and small groups of people found ways to begin trading in them, especially as at least one crypto commodity exchange had been started in Kabul by 2019. But it did not really take off until last year when the Taliban takeover of the country shut Afghanistan out of the
Ariana: Afghans are reportedly acquiring digital assets that they use to preserve their savings and to lessen the chance of having their money seized by the new authorities, Bloomberg reported this week. According to Bloomberg, the demand for digital currencies in Afghanistan has surged as some Afghans look to buy stablecoins like tether because they
Al Jazeera: Digital currencies, impervious to international sanctions, allow handful of young Afghans to avoid the worst of crisis. Click here to read more (external link).
The Guardian (UK): Afghanistan can only be saved from state collapse and widespread starvation if the definition of legitimate humanitarian aid to the country is broadened, some of Britain’s most senior former security and diplomatic chiefs have said. Click here to read more (external link). Related ‘I’ve already sold my daughters; now, my kidney’: winter
CNBC: For many Afghans, this week has laid bare the worst-case scenario for a country running on legacy financial rails: A nationwide cash shortage, closed borders, a plunging currency, and rapidly rising prices of basic goods. In some ways, it’s a perfect test case for the usefulness of bitcoin and other cryptocurrencies. CNBC spoke with