+0.21% Bitcoin (BTC) 92047.2 EUR
+0.49% Ethereum (ETH) 3338.87 EUR
+1.21% Litecoin (LTC) 79.15 EUR
-2.10% B-Cash (BCH) 402.68 EUR
+0.13% Ethereum (ETH) 0.0366024 BTC
+0.94% Litecoin (LTC) 0.00086759 BTC
-2.29% B-Cash (BCH) 0.00437734 BTC
+0.18% Bitcoin (BTC) 108210.895 USDC
+0.05% USD Coin (USDC) 0.85 EUR
+0.02% Chainlink (LINK) 14.54 EUR
-0.27% Chainlink (LINK) 0.000158 BTC
+1.17% Dogecoin (DOGE) 0.16 EUR
+1.13% Dogecoin (DOGE) 0.00000178 BTC
-2.33% Uniswap (UNI) 5.2 EUR
-2.42% Uniswap (UNI) 0.00005676 BTC
-0.05% Cardano (ADA) 0.54 EUR
0.00% Cardano (ADA) 0.00000596 BTC
+0.76% Tron (TRX) 0.27 EUR
+0.68% Tron (TRX) 0.00000296 BTC
+0.93% Shiba Inu (SHIB) 0.00000861 EUR
+7.15% Zcash (ZEC) 198.87 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
+0.55% Arbitrum (ARB) 0.3086 USDC
+0.13% Chainlink (LINK) 16.78 USD
+0.09% Chainlink (LINK) 16.76867 USDC
-2.45% Uniswap (UNI) 6.019 USDC
-0.13% Ondo (ONDO) 0.61 EUR
-0.58% Ondo (ONDO) 0.70998 USDC
+2.16% Gala (GALA) 0 EUR
+1.76% Gala (GALA) 0.01097 USDC
-1.09% Wormhole Token (W) 0.06 EUR
-1.07% Wormhole Token (W) 0.0734 USDC
-1.41% Chiliz (CHZ) 0.02 EUR
-1.45% Chiliz (CHZ) 0.03254 USDC
+0.80% Sand (SAND) 0.17 EUR
+0.29% Sand (SAND) 0.2044 USDC
+2.99% Aave (AAVE) 184.42 EUR
+2.69% Aave (AAVE) 215.04 USDC
+2.66% Curve DAO (CRV) 0.45 EUR
+2.31% Curve DAO (CRV) 0.5294 USDC
-1.89% Immutable X (IMX) 0.42 EUR
-2.42% Immutable X (IMX) 0.4939 USDC
0.00% Skale (SKL) 0.07 USDC
-1.34% Beam (BEAM) 0 EUR
-2.10% Beam (BEAM) 0.00511 USDC
0.00% Axelar (AXL) 1.05 USDC
+0.42% Livepeer Token (LPT) 4.24 EUR
+0.69% Livepeer Token (LPT) 4.955 USDC
+5.45% Compound (COMP) 30.82 EUR
+5.39% Compound (COMP) 35.93 USDC
+0.34% Coti (COTI) 0.02 EUR
-0.89% Coti (COTI) 0.0331 USDC
0.00% Portal (PORTAL) 1.1 USDC
+0.34% Sushi (SUSHI) 0.44 EUR
-0.23% Sushi (SUSHI) 0.5139 USDC
+0.52% Pepe (PEPE) 0 EUR
+0.74% Pepe (PEPE) 0.00000676 USDC
+0.90% Optimism (OP) 0.36 EUR
0.00% Polygon (MATIC) 0.2 EUR
+1.42% Solana (SOL) 159.84 EUR
+1.33% Solana (SOL) 0.001737 BTC
+0.68% Solana (SOL) 0.047956 ETH
+0.12% USD Coin (USDC) 0.74 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY
0.00% USD Coin (USDC) 4.25 PLN
0.00% USD Coin (USDC) 10.93 SEK

Taliban had a ‘massive chilling effect’ on Afghan crypto market

10-06-2022

The Taliban’s takeover of Afghanistan has had a “massive chilling effect” on the local cryptocurrency market, bringing it to an effective “standstill,” according to a recent report.

 

Blockchain analytics firm Chainalysis in an Oct. 5 report stated the Middle East and North Africa (MENA) region saw the largest crypto market growth in 2022 but noted that Afghani crypto dealers had three options: “flee the country, cease operations, or risk arrest.”

 

The report states after the Taliban seized power in August 2021, crypto value received in August and September that year spiked to a peak of over $150 million, then fell sharply the following month. Before the takeover, Afghani citizens would on average receive $68 million per month in crypto value mainly used for remittances. That figure has now dropped to less than $80,000 post takeover.

 

Afghanistan was 20th place in Chainalysis’ 2021 crypto adoption index released in October 2021, but now is at the bottom of the list following the Taliban takeover. The reinstated Ministry for the Propagation of Virtue and the Prevention of Vice in charge of implementing Islamic law in the country is the reason for the change. Chainalysis explains the agency equated cryptocurrency to gambling declaring it haram — forbidden under Islamic law.

 

A large portion of the activity still undertaken in the country comes from money laundering from illicit sources such as bribes or drugs, an anonymous source cited to Chainalysis. The individual added only a “small portion” is “young people who have a few hundred bucks” to day-trade digital assets.

 

Source: Coindesk