The Taliban, an Islamic fundamentalist group, are cracking down on cryptocurrency merchants in Afghanistan. Bloomberg media reported the matter on Friday.

Sayed Shah Sa’adaat, a senior Afghan police officer, had a dialog with Bloomberg concerning the crackdown.

Afghanistan’s financial system has suffered since late final 12 months when the Taliban took management over the jurisdiction on 15th August 2021. The Taliban’s seize has pushed massive components of the nation additional into poverty.

Following the Taliban takeover of Afghanistan’s capital metropolis Kabul final 12 months, Afghans turned to using cryptocurrency because the legacy cash system has come to a standstill.

The Taliban have the police drive underneath their management. In June, Afghanistan’s ruling Taliban group launched a brand new uniform for its nationwide police drive, saying the transfer would result in improved safety within the conflict-torn nation.

Since returning to energy, the Taliban have relied on their broadly feared rebel safety drive to deal with legislation and order throughout the nation amid persistent criticism that the absence of a police uniform and an absence of police coaching are encouraging the lads to interact in felony actions or misuse of energy.

Since their comeback, most financial institution places of work shut down, and those who had been working witnessed lengthy queues of consumers making an attempt to withdraw money.

International donations and funds haven’t been not doable by way of the banking system. Because of this, transferring funds on to an individual’s Bitcoin pockets grew to become a extra possible choice.

Nevertheless, a 12 months later, the Taliban authorities are actually clamping down on the native cryptocurrency market. To this point, the Taliban police drive has detained 13 native crypto enterprise house owners and shut down their cryptocurrency-related enterprises.

Sa’adaat, the top of the counter-crime unit of Herat police, mentioned that greater than 20 crypto-related companies have been shut down within the nation’s third largest metropolis, Herat, the place three-quarters of the nation’s crypto brokerages are situated.

In keeping with Sa’adat, the Central Financial institution of Afghanistan outlawed cryptocurrency buying and selling because the follow inspired scams.

“The central financial institution gave us an order to cease all cash changers, people, and businesspeople from buying and selling fraudulent digital currencies like what is often known as Bitcoin,” he said.

Saadat mentioned the crackdown got here as a response to some Afghans storing their money in cryptocurrency to maintain it away from the Taliban.

In June, the Taliban-controlled Central Financial institution banned all on-line international alternate buying and selling.

In February, the armed group introduced that they’d talk about whether or not digital tokens might be permitted underneath Islamic monetary customs.

Nevertheless, non secular specialists had lengthy predicted that the Taliban authorities would outlaw crypto as a result of it has features of playing and uncertainty, which Muslims contemplate as sinful.

Picture supply: Shutterstock


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