Afghanistan’s Taliban actively trades crypto memecoins despite imposing nationwide ban
Author: Content Editor
The Taliban has officially banned cryptocurrency in Afghanistan, labeling it "haram." However, it has been revealed that Taliban members have been secretly trading memecoins such as Shiba Inu (SHIB) and Dogecoin (DOGE). This hypocrisy has caused international scrutiny and highlighted the gap between the Taliban's actions and their rhetoric. Prior to the ban, Afghanistan ranked 20th on the Crypto Adoption Index, as citizens turned to crypto amid the country's economic collapse. However, the Taliban's ban has devastated the local crypto activity, shutting down exchanges and arresting traders. The Taliban's motivation for the ban is believed to be a desire for control over Afghanistan's economy. Meanwhile, the Taliban has been attempting to establish alliances, including requesting an invitation to Russia's annual summit and potentially even joining the BRICS. The economic situation in Afghanistan is expected to worsen, further impacting its citizens.