Nepal's authorities have once again taken steps to block cryptocurrency related activities. In a Jan. 8 notification, Nepal's Telecommunications Authority instructed all internet service providers (ISP) to prevent operating and managing crypto-related “websites, apps or online networks.”
- In September 2021, the nation's central bank banned cryptocurrency activities including trading and mining. In April 2022, Nepal's telecommunications authority sought information from the public about anyone participating in illegal activities, such as cryptocurrency.
- The latest caution threatens legal action against ISPs and email service providers if any crypto-related activity takes place on their platforms. The notification stated that virtual currency transactions which are illegal in the nation "are increasing in recent days."
- Despite the ban, Nepal has ranked 16th in Chainalysis' 2022 Global Crypto Adoption Index, ahead of nations like the United Kingdom and Indonesia.
- Nepal is one of nine countries along with China, Algeria, Bangladesh, Egypt, Iraq, Morocco, Qatar, and Tunisia to have instituted an absolute bans on crypto, according to a report by the Library of Congress.
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