Topic: Taliban Leadershipeadership Impose Ban on Cryptocurrency in Afghanistan - page 2. (Read 483 times)

Cryptocurrency Operations has been laid to halt in Afghanistan and the usage forbidden in the region as it is believed to have been the root in perpetrating fraud and the new regime of the Afghan leaders

Over 20 businesses associated with cryptocurrency had been shut down in Afghanistan and the whole engagement of it has been banned just as in the case of China, hasn't this been an end to cryptocurrency in Afghanistan? or p2p can be use to circumvent the ban but if caught it's a purnishable offense.

From September 2021 there is a big problem in the banking sector.
Taliban bans drug cultivation, including lucrative opium
https://www.reuters.com/world/asia-pacific/taliban-bans-drug-cultivation-including-lucrative-opium-2022-04-03/
It was when the Americans controlled Afghanistan that drug production grew there.

Let's think about why they need it?
It is impossible to ban cryptocurrency if the Internet is not blocked.
The first thought is to prevent the withdrawal of savings to other countries. If so, then over time the bans should be lifted.
Another thought is that it is not possible for opponents of the government to receive funding from other countries.

For the Taliban, this is part of their "great" plan to return Afghanistan to the "Stone Age"! Trust me, they will succeed.
I perfectly understand why the United States left Afghanistan - you cannot teach people to live like normal people, well and civilized, if they absolutely do not want it!
The problem of the "new" Afghanistan under the control of the Taliban is that in addition to the fact that they will very quickly lead Afghanistan itself to total degradation, they will become a new, yet another center of regional terrorism. It is precisely because the surrounding countries did nothing to try to pull Afghanistan out of this path that the United States spat on this whole idea, and did not want to independently resolve the issues of those who should have been most interested in this.

Cryptocurrency Operations has been laid to halt in Afghanistan and the usage forbidden in the region as it is believed to have been the root in perpetrating fraud and the new regime of the Afghan leaders, the "Taliban" have directed everyone in the country to desist from it acceptance, usage and transactions involving cryptocurrency for making payments while it has banned the commercial banks from it either, many have been arrested for contributing to the use of cryptocurrency by engaging in trading crypto tokens and other related activities that supports the engagement of cryptocurrency within the rule of the Taliban regions in Afghanistan.

The Taliban leadership believed cryptocurrency as an aid in denying them have access over the control of the people's asset as cryptocurrency is believed to be a decentralized digital network whereby anyone can independently secure his financial assets without the rule of the Taliban, this is what they believed as against their ethics in the country and further places engaging cryptocurrency or uses attracts a purnishable act.


Over 20 businesses associated with cryptocurrency had been shut down in Afghanistan and the whole engagement of it has been banned just as in the case of China, hasn't this been an end to cryptocurrency in Afghanistan? or p2p can be use to circumvent the ban but if caught it's a purnishable offense.

It all makes sense, boosting the Afghan economy and wanting to be recognized as a country they have to adapt to but still not bow to the US. As their consistent resistance. We know that the realm of Afghanistan cannot be touched by the US, therefore China has the opportunity to negotiate as a form of achieving the same goal. The agreement provides China with a high-speed rail line and expands the coverage sector. Once again doing business with China is the path taken by the current Afghan government.

Including the policy that China will continue to intervene, as a strong ally of China to take risks and open loans as long as it benefits them in building the One Belt One Road route or now known as the Silk Road Economic Belt.

Not very surprising. They used to be using cryptocurrency and now they are banning it. They now know the burdens of governing a country where they have no control over the people's wealth.

But most government are up for control so there is nothing to be surprised of.  They could really issue CBDC, this way they can also survey everyone. Since they are legitimized by China, then they can ask support from China.

Just watch all the prohibitions that the Taliban have imposed. Are there reasonable restrictions? Should this be surprising? Anything related to freedom is not allowed. The government thinks that it can only govern Afghanistan by force. Sometimes it works. In addition, many residents of Afghanistan have a very low level of education. And it is for them that owning a bitcoin can be a difficult science. Therefore, it is hoped that the government will be able to improve the standard of living and literacy of its people. And after that, they will think about revising the ban on cryptocurrencies.

It seems the Taliban forgot that when they fought against governments in the past, it was also a fact that to finance their wealth they used crypto transactions to avoid risk. Now the funny thing is that after controlling the government, the leader made a policy towards the people to ban the use of crypto. It sounds ridiculous but from an economic point of view, we see the Taliban getting support from China in building infrastructure. Restoring the devastated territory was China's offer at the time. Now there is a policy that reverses direction. This means that they cannot control financial control if they legalize cryptocurrencies in areas that are still under development. They forget that the guns they buy come from money laundering.

maybe 

Over 20 businesses associated with cryptocurrency had been shut down in Afghanistan and the whole engagement of it has been banned just as in the case of China, hasn't this been an end to cryptocurrency in Afghanistan? or p2p can be use to circumvent the ban but if caught it's a purnishable offense.

I used to think that cryptocurrency is actually advantageous rather than disadvantageous to the Taliban because they are importing illegal drugs around the world. The Taliban has been earning hundreds of millions of dollars a year from narcotics. It's probably one of their main sources of income. Well, perhaps they don't need crypto for this kind of transactions. Fiat and the banks are probably the more convenient options for them.

You can choose to travel abroad but I think it's not worth it if you are just holding small crypto, you just need to hold for now and secure that wallet. The market in Afghanistan is not that big, and they are experience a lot of problem since Taliban takes over their country, for now crypto user there should take cautious and avoid being caught.