Afghanistan bans cryptocurrencies

The Taliban have banned the circulation and use of cryptocurrencies in Afghanistan and are detaining violators of the ban and traders, Bloomberg reported, citing a senior police official in the country.

As the agency notes, Afghanistan’s central bank imposed a ban on cryptocurrencies in August amid a backlash as some Afghans began using cryptocurrency to store funds as well as transfer finances to other countries.

“The central bank issued an order to stop all currency exchangers, individuals and businessmen from trading in fraudulent digital currencies like those called bitcoin,” Sayed Sadaat, head of criminal investigations at Afghanistan’s Herat police, told the agency.

Sadaat said at least 13 people were detained for violating the ban, but most were released on bail. More than 20 cryptocurrency-related organizations were also shut down in Herat.

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