Herat police have shut down cryptocurrency exchanges

Published on:

Last Updated on August 26, 2022 by Bitfinsider

In Herat, at least 16 cryptocurrency exchanges have closed in the last week.

“In a letter, Da Afghanistan’s Bank (central bank) stated that digital currency trading has caused numerous problems and is scamming people, and that they should be closed.” “We acted, arrested all the exchangers involved in the business, and closed their shops,” said Sayed Shah Sa’adat, head of Herat police’s counter-crime unit.

According to the Herat Money Exchangers’ Union, people are being duped through digital currency trading.

“Digital currency accounts are purchased from companies outside the country.” Because our people are unfamiliar with it, it is best not to use it. “This currency is new to the market and has a high rate of fluctuation,” said Ghulam Mohammad Suhrabi, president of the Herat Money Exchangers’ Union.

According to experts, there is no specific data on how many people trade in forex or crypto currencies online.

“Because digital currency is a new phenomenon that is not used in Afghanistan, the process should be monitored by the government so that there is no scamming and people can make better investments,” said Shahram, a Herat resident.

“The government must monitor and prevent digital currency activity, or assets will flee Afghanistan.” People are also losing money because syndicates are involved and rates fluctuate on a daily basis, according to Mawla Alizada, a Herat resident.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked.

To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor


Are you new to investing and would like to find out more about investments and cryptocurrency? If you know nothing about a topic and want to become an expert on it, one fool proof way to start is to read good books about the topic.

If you read one book about a topic, you will be able to share knowledge or discuss the topic at an elementary level with almost everyone.

Read three books and you will likely know more than the majority of people and will be able to discuss the topic at an intermediate to expert level.

  1. The Intelligent Investor by Benjamin Graham
  2. Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs and More by Ian Balina
  3. The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology That Powers Them by Antony Lewis

Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.

Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

Related