RASC News Agency: Some online currency exchanges in Herat province, western Afghanistan, confirm that trading digital currencies has ceased following the Taliban’s takeover of Afghanistan, leading to the closure or covert operations of most online exchanges.
A proprietor of an online exchange in Herat province, speaking on condition of anonymity to RASC on Tuesday, Apr 16, stated that it has been nearly three years since the Taliban prohibited any trading of digital currencies in the market, causing significant concern among a large portion of online exchanges. He added that the Taliban are primarily targeting traditional exchanges operating in Herat province’s market, aiming to eliminate the role and presence of online currency traders. Moreover, he noted that this situation contradicts the interests of online exchanges, which the Taliban have not valued.
Additionally, another online exchange proprietor in Herat province’s currency market informed RASC that many currency traders have incurred substantial losses due to the Taliban’s restrictions on the online exchange market. According to him, numerous online currency traders in Herat province have lost millions of US dollars, attributing the chaotic situation solely to the Taliban. He emphasized that if the Taliban do not reconsider the issue at hand, these traders may protest against the infringement of their occupational rights.
Meanwhile, Akbar Rezaee, an online exchange proprietor in Afghanistan, informed RASC that before the Taliban’s control in Afghanistan, the online exchange business was thriving, with significant cultural development. However, he lamented that since the Taliban’s presence, all efforts of digital currency exchanges have been nullified and destroyed. He stated that compared to other countries worldwide, Afghanistan has a relatively shorter history in the online market and digital currency exchanges. He further expressed that the recent actions of Taliban authorities have set back the online currency and digital trading market by several decades, affecting not only Kabul, Herat, and Mazar-i-Sharif but also other provinces of Afghanistan, which had witnessed tremendous growth in their trading activities.
On the other hand, Abbas Mirzazadah, a resident of Herat province, informed RASC that for the past five years, he has been actively trading digital currencies in the online exchange market and has achieved satisfactory returns. He added that one of the challenges hindering traders in Herat province’s currency market is the buying and selling of digital assets, restricted by the Taliban. He emphasized that if the Taliban allow online exchanges to reopen, traders in digital currencies can resume their operations and engage in numerous daily transactions.
It is worth noting that for the past two years, the Taliban have imposed strict regulations on online currency exchanges in Herat province’s currency market and have warned digital currency traders of penalties and referral to Taliban judicial bodies for engaging in the buying and selling of digital assets.
