Security forces have closed crypto currency exchanges in Afghanistan's western Herat province after a ban on crypto trading was imposed about three months ago in the country.At least 16 cryptocurrency exchanges have been closed in the past week in Herat.Da Afghanistan's Bank (central bank) stated in a letter that digital currency trading has caused lots of problems and is scamming people, therefore they should be closed.
We acted and arrested all the exchangers involved in the business and closed their shops,& said Sayed Shah Sa&adat, head of the counter-crime unit of Herat police.Herat Money Exchangers& Union also said that people were being scammed through digital currency trading.Digital currency accounts are outside the country and are purchased from the companies.
Our people are not familiar with it, so it is better not to use it.
This currency is new in the market and has high fluctuation [rates],& said Ghulam Mohammad Suhrabi, head of Herat Money Exchangers& Union.There is no specific data on how many people trade in forex or crypto currencies online, experts said.Digital currency is a new phenomenon which is not used in Afghanistan, therefore the process should be monitored by the government so that there will be no scamming and people can make better investments,& said Shahram, a resident in Herat.The government should monitor and prevent digital currency activities, otherwise assets leave Afghanistan.
People also suffer losses because syndicates are involved and rates fluctuate daily,& said Mawla Alizada, a Herat resident.The post Police close crypto currency exchanges in Herat first appeared on Ariana News.