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Afghanistan police reportedly shuts down 16 crypto exchanges in past week

Afghanistan police reportedly shuts down 16 crypto exchanges in past week


Seeking Alpha
2022-08-25 15:56:29
Afghanistan police reportedly shuts down 16 crypto exchanges in past week

In the past week, Afghanistan authorities on Thursday were said to have closed down 16 unidentified cryptocurrency exchanges in the country's western Herat province after a recent ban on crypto trading.Da Afghanistan Bank, the nation's central bank, noted in a letter that law enforcement "acted and arrested all the exchangers involved in the business and closed their shops,” as a result of scams spurred by digital currency trading, independent local media outlet Ariana News reported, citing Sayed Shah Sa’adat, head of the counter-crime unit of Herat police.Meanwhile, the Herat Money Exchangers' Union said that people in the country are prone to being scammed since they are not familiar with digital currencies, thus the trading of digital tokens should be monitored by the government, as reported by Ariana.Da Afghanistan Bank did not immediately respond to a request for comment by Seeking Alpha.Earlier this week, Three Arrows liquidators said to receive Singapore recognition to probe fund.

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