Nations that rely on governmental control of the economy continue preventing any advances of crypto within their jurisdictions. Russia, China, and some other overly managed governments have their unique takes on how to deal with crypto enthusiasts and digital assets. Up until recently, South Korea was among these countries that opposed any ideas about integrating crypto into their economies.
While these struggles of crypto enthusiasts in other countries usually do not bother the rest of us, some news articles are quite disturbing. The Taliban regime in Afghanistan decided to completely ban all cryptocurrencies on the territory under their control. The central bank issued a strict ban on any operations with crypto. Taliban started arresting people who continued trading tokens.
Representatives of the regime call cryptocurrencies “fraudulent digital currencies” and most of all hate Bitcoin. Since the beginning of August, 13 people were arrested for engaging with cryptocurrencies. Note that we do not know to which extent they were involved with digital assets. Traders might have been willing to risk while knowing how dangerous any operations with crypto are in Afghanistan, but many holders could be detained just because they forgot to sell their assets.
Also read:The country had 6 cryptocurrency brokers with 4 situated in the capital of the nation just 120 kilometers away from the border with a little bit freer Iran. Cryptocurrencies could be targeted by the Taliban because they allow some educated individuals to flee the country by slowly moving their capital away from governmental control.
While the actions of the Taliban seem very harmful and dangerous, we have to remember that all countries are tightening their regulations of crypto markets. The United States rolls out some new regulations very soon. Canada had already implemented new rules including an annual limitation on purchases of cryptocurrencies.
Afghanistan sets yet another precedent for a nationwide ban on cryptocurrencies. The country joins the ranks of China and some other counties that decided to completely forbid any business activities involving crypto projects. While it is unlikely that developed countries will follow the lead of authoritarian governments, the trend is worrying.
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