Crypto Use Surges in Afghanistan Admist Taliban Takeover

The use of cryptocurrencies has surged in Afghanistan, as traditional financial systems fail amidst the Taliban’s takeover of the country.

As the Taliban’s seizure of the nation’s capital Kabul grew increasingly likely over the summer, Afghanistan’s central bank withdrew hard currency reserves from its vaults.

Subsequently, the U.S. halted shipments of dollar bills, while local banks imposed capital controls.

Due to Western governments, banks and money-service businesses cutting off access to other forms of finance, Afghans have increasingly come to see cryptocurrencies as a safe place to store their funds, providing a small but critical financial lifeline.

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