Block Crypto Websites Or Face Legal Actions: Nepalese Regulator

This Country To Block All Crypto Websites

January 10, 2023 Story: Divya Sinha

Nepal has decided to take a tough stance on cryptocurrency trading.

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In a notice issued on January 8, Nepal's telecom authority has ordered Internet Service Providers (ISPs) to block all cryptocurrency trading websites.

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Also, it threatens legal action against ISPs and email service providers if the crypto-related activity takes place on their platforms

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The notice states that there has been a recent increase in illegal cryptocurrency trading in the country.

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The Nation’s central bank i.e Nepal Rastra Bank banned cryptocurrency activities in September 2021.

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In April, NTA issued a similar warning, urging the public to notify regulators if they have information related to the name of such crypto website or online network.

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However, as per Chainalysis's 2022 Global Crypto Adoption Index, Nepal ranks 16th and is ahead of the United Kingdom and Indonesia.

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