US sanctions, failing banks, and the drying up of foreign aid and cash transfers has left Afghanistan’s economy in tatters – but, crypto is coming to the rescue
Following the Taliban’s takeover in August last year, younger people are turning to virtual wallets.
As the nation’s banks have stopped working, people causing turning to cryptocurrency not just to trade, but to survive.
Crypto fans say they are the future of money and will stop people having to rely on banks.
Google data shows that web searches for “bitcoin” and “crypto” increased in July just before the takeover in Kabul.
Afghanistan scored 20th out of 154 countries in terms of their crypto adoption.
Just one year before, the nation’s crypto presence was so minimal that it was entirely excluded it from its ranking.
