Afghans hold on to cryptocurrency as Taliban takeover triggers economic crisis

Some Afghan citizens who had invested in cryptocurrency assets will be protected from the ongoing economic crisis in the country due to the Taliban takeover.

Some Afghans are relying on their cryptocurrency holdings amid the economic crisis triggered by the Taliban’s hostile takeover. Crypto assets won’t help citizens purchase anything immediately, but are a guarantee that their wealth will be safe amid economic instability. Investing in cryptocurrencies is a fairly new concept in Afghanistan, but the country has seen rapid adoption of digital coins in 2021. The country ranked 20th out of 154 countries in the Chainalysis 2021 Global Crypto Adoption Index — a huge improvement from 2020 when it did not even make the list. And upon isolating the country's peer-to-peer (P2P) exchange trade volume, Afghanistan jumps up to 7th place, as per the report.