Internet and email service providers have been ordered by the Nepalese telecommunications regulator to block access to any cryptocurrency-related trading websites or face possible legal action.
Internet service providers (ISPs) in Nepal have received instruction from the country’s telecommunications regulators to block access to all cryptocurrency trading websites. Those who fail to comply with the instruction have been threatened by legal action. The Nepal Telecommunication Authority (NTA) issued a notice to all ISPs and email service providers which orders them to prevent access to “websites, apps or online networks” related to any cryptocurrency activities according to reports by Cointelegraph.
In a September 2021 notice, the Nepal Rastra Bank (NRB), declared cryptocurrency trading and mining illegal, further stating “encouraging” others to make use of cryptos is also an activity that is punishable by law.
The NTAs recent notice said that virtual currency transactions “are increasing in recent days” and underscored the fact that cryptocurrency transactions are still illegal in Nepal. The NTA also issued a similar notice in April related to crypto websites requesting the public to inform the regulator if they have information “related to the name of such website, app, or online network.” The April notice also threatened legal action if “anyone is found to have done or been doing” crypto-related activities.
Despite being deemed illegal in Nepal, the country has been at the forefront of global cryptocurrency adoption and has been ranked 16th globally according to a Chainanalysis report.
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