Cryptocurrency Q&A
Are cryptocurrencies illegal in Nepal?
Are cryptocurrencies illegal in Nepal?
DavidJohnson
Tue Jul 16 2024
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6 answers
1230
I'm curious to understand the legal status of cryptocurrencies in Nepal. Could you please elaborate on whether cryptocurrencies are considered legal tender or if there are any specific regulations governing their use and trading in the country? Given the increasing popularity of digital currencies globally, it's important to be aware of the local laws and regulations to ensure compliance and avoid any legal issues. Clarifying this matter would be greatly appreciated.
6 answers
Pietro
Thu Jul 18 2024
The ban extends to providing services that enable or promote cryptocurrency transactions, such as wallets and payment gateways.
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SolitudeNebula
Thu Jul 18 2024
Cryptocurrencies have encountered stringent regulations in Nepal, stemming from the central bank's categorical prohibition.
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Arianna
Thu Jul 18 2024
Within the country's jurisdiction, engaging in transactions involving Bitcoin or any other digital currencies is deemed unlawful.
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HanjiArtist
Thu Jul 18 2024
Operating cryptocurrency exchanges, which facilitate the buying, selling, and trading of digital assets, is also prohibited.
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GeishaMelody
Wed Jul 17 2024
This strict stance against cryptocurrencies is a reflection of the central bank's concerns over their potential risks, including market volatility, lack of regulation, and potential use for illicit activities.
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