Crypto value received in Afghanistan surged in the wake of the Taliban seizing power in August 2021, but crypto markets have flat lined under the regime.
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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,
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