According to reports, 13 people were detained by the Taliban as they order a crypto-crash in Afghanistan. More than 20 crypto-related businesses were shut down.
According to Bloomberg, the Taliban have been imposing severe sanctions on cryptocurrency traders in Afghanistan.
Sayed Shah Sa’adaat, a senior Afghan police officer, talked to Bloomberg about the crackdown that has resulted in 13 detainees. Saadat stated that it was in response to some Afghans who stored their money in crypto to protect it from the Taliban.
He stated that the central bank had given him an order to prevent money changers, individuals and businesspeople trading in fraudulent digital currencies such as Bitcoin.
According to Bloomberg’s report, more than 20 crypto-related businesses were shut down in Herat, the third largest city of the country. Herat is where three-quarters the country’s crypto brokers are located.
The economy of Afghanistan has suffered since the Taliban took over, according the Financial Times. Large parts of the country have been forced further into poverty. According to World Bank data, the country’s unemployment rate rose sharply in 2013.
After the US’s 2001 invasion, the Taliban, who ruled Afghanistan before the US-led invasion, retook power. In March, the BBC reported that crypto was becoming more popular in Afghanistan due to the US sanctions.
