INSUBCONTINENT EXCLUSIVE:
Afghans are reportedly acquiring digital assets that they use to preserve their savings and to lessen the chance of having their money
seized by the new authorities, Bloomberg reported this week.According to Bloomberg, the demand for digital currencies in Afghanistan has
surged as some Afghans look to buy stablecoins like tether because they are pegged to the U.S dollar.The report quotes one 26-year-old
Afghan resident, Habibullah Timori, as saying they the demand for cryptocurrencies is high.During other crises, people stored their cash and
jewellery in the ground or under their pillows
This time, they&ve decided to keep it buried in crypto,& he said.The report also cites another 26-year-old Afghan, Naser Ali, who claims to
have converted $30,000 stashed in his safe to USDT.Ali said he regrets not having known about cryptocurrencies sooner, Bloomberg
reported.Despite the surging demand for cryptocurrencies, exchanges like Maihan say the United States sanctions on Afghanistan are making
it difficult for residents to buy digital currencies
Further, residents buying from local crypto exchanges are charged a commission of 1.5% for every crypto transaction.The post Afghans using
crypto to ‘safeguard& their savings first appeared on Ariana News.
