Taliban bans online currency exchange amid economic challenges

As Afghanistan grapples with a faltering economy, the Taliban-controlled central bank announced it has not authorized any online currency exchange operations, effectively deeming them illegal.

The bank emphasized that neither companies nor individuals have been granted licenses for online money exchange, declaring all such activities prohibited.

Taliban has warned that legal actions would be pursued against anyone found engaging in unauthorized online financial transactions.

The bank also issued a caution, urging the public and businesses to avoid online currency exchanges due to the risks and potential legal consequences.

Previously, the central bank had outlawed online foreign currency trading in Afghanistan.

The takeover by the Taliban and subsequent economic decline have prompted many to explore internet trading and invest in digital currencies. The shift towards online and digital transactions has been significant since the Taliban’s return to power, increasing the susceptibility to scams and fraudulent activities.