In a CoinDesk op-ed, Kurdcoin founder argues crypto adoption is inevitable in Iraq
In a recent opinion piece published by CoinDesk, Kurdcoin founder Abdurrahman Bapir highlights the unstoppable rise of cryptocurrency in Iraq and the Kurdistan Region, even as authorities maintain a tough stance against it.
“When we started Kurdcoin in 2017, only a few hundred people in Iraq had heard of crypto. Today, the community has grown to thousands,” Bapir writes.
He explains that Iraq’s young, tech-savvy, and mostly unbanked population is embracing crypto as an alternative way to store value, invest, and make payments. With more than 37 million mobile subscriptions and internet use above 75%, the environment is ripe for digital adoption.
However, Bapir warns that the lack of regulation has created a black market full of fraud and scams. He argues that banning crypto doesn’t stop the problems—it only makes them worse. “The only way to break the cycle is by introducing a bill to regulate digital currencies,” he writes.
Bapir warns that the lack of regulation has created a black market full of fraud and scams. He argues that banning crypto doesn't stop the problems—it only makes them worse. "The only way to break the cycle is by introducing a bill to regulate digital currencies," he writes.
Despite being blocked by major exchanges and government warnings, many Iraqis continue to use crypto daily. As Bapir concludes, “Mass crypto adoption in Iraq seems to be inevitable because of the financial opportunities, ease of use, and growing demand.”
