Afghans Turn To Bitcoin Stability After Taliban Takeover
Bitcoin adoption in Afghanistan has increased as citizens seek stability in the face of cash shortages and rising prices after Taliban takeover.Afghans have been resorting to bitcoin for storing and exchanging value since the Taliban took over control of most of the country. On August 15, hundreds of residents of Kabul, the country's capital, rushed to banks to withdraw money as Taliban fighters took over the city demanding the government's surrender – but only to hit a brick wall. Cash shortages, intense restrictions, and an ever-devaluing local currency have pushed Afghans to seek....
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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 […]
Pashtana Durrani described the Taliban as "people who were fighting in rural and very mountainous regions" who don't have the proper background for modern financial literacy. Pashtana Durrani, the founder of an organization working to make education available to women and girls across Afghanistan as the country remains under Taliban rule, said the Islamic fundamentalist group has poor financial literacy, especially when it comes to crypto.In a Wednesday interview with political commentator Tommy Vietor from Pod Save the World, LEARN Afghanistan founder Pashtana Durrani said the....
Crypto value received in Afghanistan surged in the wake of the Taliban seizing power in August 2021, but crypto markets have flat lined under the regime. The Taliban’s takeover of Afghanistan has had a “massive chilling effect” on the local cryptocurrency market, bringing it to an effective “standstill,” according to a recent report.Blockchain analytics firm Chainalysis in an Oct. 5 report stated the Middle East and North Africa (MENA) region saw the largest crypto market growth in 2022 but noted that Afghani crypto dealers had three options: “flee the country, cease operations, or risk....
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....