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Police Shut Down 16 Cryptocurrency Exchangers in Afghanistan

Police in Afghanistan shut down 16 cryptocurrency exchangers in the country’s Herat province in response to complaints about scams and pyramid schemes.

“Da Afghanistan’s Bank stated in a letter that digital currency trading has caused lots of problems and is scamming people, therefore they should be closed. We acted and arrested all the exchangers involved in the business and closed their shops,” said Sayed Shah Sa’adat, head of the counter-crime unit of Herat police.

Authorities in Afghanistan have been receiving hundreds of complaints every month about fraudulent cryptocurrency exchanges and pyramid schemes.

A picture of Afghan money changers

Afghan money changers

The local independent outlet Ariana reported that Afghanistan’s central bank outlawed cryptocurrency trading in June 2022.

Ghulam Mohammad Sohrabi, head of Herat’s money changers’ union, said:

“Our people are not familiar with digital currencies, their accounts are not the same as bank accounts of dollars, euros and Afghanis; Because there are no documents. On this account, until our people know, don’t use it. Digital currency accounts are located outside the country and are purchased from companies; Our people do not know. It would be better if they don’t use this money, because this currency has just entered the market and is highly variable.

The Herat Currency Exchange Association agreed that digital currencies are reliable in other markets and are in use by other countries.

Ariana quoted two residents of Herat who agreed with the government’s actions:

“Digital currency is a new phenomenon which is not used in Afghanistan, therefore the process should be monitored by the government so that there will be no scamming and people can make better investments,” said Shahram, a resident in Herat.

“The government should monitor and prevent digital currency activities, otherwise assets leave Afghanistan. People also suffer losses because syndicates are involved and rates fluctuate daily,” said Mawla Alizada, a Herat resident.

A picture of The non-occupation government of Afghanistan holding a mock funeral for the Western 'nation builders'

The non-occupation government of Afghanistan holding a mock funeral for the Western 'nation builders'

It's Called We Engage In A Mild Amount of Tomfoolery
e2b1e090 Thu, Aug 25, 2022

Afghan tourist David Goldberg also shared his opinion:

“It is amazing that the legitimate Afghan government is taking action against dangerous financial tools. I wholeheartedly support any and all restrictions placed on dangerous cryptocurrencies such as Bitcoin or Monero. However the use of Ethereum, USDC and other well regulated cryptocurrencies should be encouraged. It is in our interest, my brothers. In sh’Allah.”

212b0a00 Thu, Aug 25, 2022

hello fellow moslems

f33a1830 Fri, Aug 26, 2022

lol imagine trying to regulate monero lol

fd902120 Tue, Aug 30, 2022

ethereum is globalist jewcoin.

229666c0 Thu, Aug 25, 2022

the “government” must have found out a woman was using crypto

203692e0 Thu, Aug 25, 2022

lmao thoses dumbass

324fe6b0 Fri, Aug 26, 2022

And the national level lockdowns on Cryptocurrency begins. It’s only a matter of time before other countries start banning the use of crypto. We can only hope that it doesn’t effect large international areas. The price of crypto would plummet and getting crypto would get harder and harder.

390df150 Fri, Aug 26, 2022

“An estimated 22.8 million Afghan people, more than half the country’s population, are facing potentially life-threatening levels of food insecurity and malnutrition this year. Half of all children under 5 — around 3.2 million — were expected to suffer from acute malnutrition by the end of 2021.” Kangaroo court bastards…

ea4a9cb0 Fri, Aug 26, 2022

its a muzlam

9a7a72d0 Tue, Aug 30, 2022

Funny how people try to make a distinction between bitcoin and Ethereum as if Ethereum is somehow better than bitcoin. More than 1 billion dollars has been hacked from the Ethereum blockchain in just 2022 alone. People are so ignorant it’s hilarious.

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