Bitcoin News: Taliban Government in Afghanistan Bans Bitcoin and Cryptocurrency Trading

The Taliban government in Afghanistan has effectively banned Bitcoin and cryptocurrency trading nationwide, threatening to prosecute traders and related businesses. Over 20 crypto shops in Herat have been shut down, with at least 13 traders reportedly arrested. Monthly crypto inflows into Afghanistan have plummeted from over $150 million at their peak to less than $80,000. After the country was largely cut off from the global banking system, Bitcoin and stablecoins had become vital tools for savings and remittances. Taliban officials have labeled digital assets as fraudulent, comparing crypto speculation to gambling, which is prohibited under Islamic law. Despite the crackdown shrinking the visible crypto market in Afghanistan, Bitcoin can still be traded via the internet, private keys, and peer-to-peer counterparties.