Report: Afghans Use Crypto to Curb Taliban’s Influence on Their Financial Wel...
Afghan residents are reportedly acquiring digital assets that they use to preserve their savings and to diminish the ruling Taliban’s ability to affect their financial well-being. Since the militant group seized control, the value of crypto transactions per week has in some cases doubled, a Bloomberg report has said. Demand for Digital Currencies Surges Demand for digital currencies in Afghanistan has reportedly surged as residents seek to pre-empt the possible seizure of their funds by the Taliban government. In addition, digital currencies are being used to curb the....
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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 […]
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....
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 […]
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. […]
Afghans will leverage crypto assets as a store of value and to preserve financial privacy amid the Taliban’s dramatic insurgence, predicts Charles Hoskinson. However, he also believes the Taliban will embrace digital assets too. In a Sept. 1 interview with CNBC, Hoskinson, also a co-founder of Ethereum expressed his expectation that “cryptocurrencies will play a larger role in Afghanistan [...] in the war for and against the Taliban forces." Hoskinson highlighted the need for financial privacy-preserving technologies in Afghanistan, stating:Cardano founder Charles Hoskinson believes that....