Country In Turmoil: Are Reports Of Afghans Turning To Crypto Largely Exaggera...
As the Taliban continue to cement their hold in Afghanistan, legacy financial rails face a crisis of epic proportion. Crypto is largely painted as the go-to method for dealing with spiraling economic turmoil, with Venezuela a recent example of this dynamic in effect. While reports claim Afghan locals are increasingly turning to crypto as a […]
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Crypto is playing an important role for organizations looking to send financial aid to Afghanistan. Around 24.4 million afghans are in humanitarian need, but strict rules and sanctions forbid money to go into the country by traditional means. Immediate Support Is Needed Since the Taliban took over, the country has reached the verge of collapse. […]
Since the Taliban took over Afghanistan in August of last year, US authorities have cut off financial sources to disrupt the state’s economy. As a result, money transfers became a severe problem for Afghans. Sanctions by the US unable Afghans from receiving foreign aid. But, cryptocurrencies popped up as an alternative payment medium to rescue […]
Afghanistan is currently one of the top 20 countries that have widely adopted cryptocurrencies. Afghans have shifted to digital coins to protect their wealth from Talibans. Crypto is highly volatile but Afghans have put their trust into stablecoins instead of Bitcoin. Suggested Reading | Abu Dhabi Grants Kraken License To Operate Crypto Exchange Storing Assets […]
Basic needs for refugees, medical care on the ground, and visa assistance — some crypto users are sending tokens to nonprofits and others to help the Afghan people. With thousands of Afghans currently being accepted as refugees in different countries following the Taliban’s takeover of many highly populated areas, many nonprofit organizations are accepting donations in cryptocurrency.Thousands if not millions of Afghans are attempting to or are in the process of fleeing their home in fear of what the Taliban may do now they are largely in control of the country. Organizations helping....
Afghans have shown great interest in cryptocurrencies and some are using them to avoid U.S. sanctions and get paid from other countries. After the Taliban took full control of Afghanistan in August last year, many international non-governmental organizations and services stopped operating in the country. Among them were payment services like Western Union and Swift.Many Afghans subsequently began to learn about cryptocurrencies and the underlying blockchain technology to — at the very least — receive remittances from abroad. As electronic payment services like PayPal and Venmo have never....