KATHMANDU, April 5: The police have arrested a person for dealing in cryptocurrency, which is illegal in Nepal.

As the leading cryptocurrency, Bitcoin approaches the one crore Nepalese Rupees mark, its significance becomes undeniable, despite being banned in Nepal, which indicates that we are still in the digital Stone Age. However, it's glaringly absent from parliamentary discussions in Nepal. This omission underscores the transformation of the Nepalese parliament into what can only be described as "Parliamentwood" - a realm dominated by theatrical displays rather than substantive governance.

Symphony of Techno-Pessimism

February 7, 2024 08:30 am

Free markets are essential for technological progress, functioning as discovery machines that drive innovation through competition and discipline. Imposing bans disrupts this natural process, stifling the potential for individual prosperity and collective advancement.

KATHMANDU, Jan 30: The police have arrested a man from Ilam on the charge of engaging in cryptocurrency transactions.

KATHMANDU, Jan 24: A case has been registered at the Kathmandu District Court against a group of 17 people on the charge of dealing around Rs 300 billion through illegal hundi, cryptocurrency transactions and various digital platforms. Among these 17 people is the controversial businessman Bimal Poddar.

KATHMANDU, April 5: Nepal Rastra Bank (NRB) has termed the use of cryptocurrency ‘financially risky’ and continues its ban over the use of the virtual financial instrument.

KATHMANDU, April 4: Nepal Rastra Bank (NRB) has unveiled the Cryptocurrency Risk Assessment Report today.

KATHMANDU, April 4: Nepal Rastra Bank (NRB) has said that investments in virtual currency/cryptocurrency, pyramid based network marketing and hyper fund are illegal.

KATHMANDU, August 18: A writ petition has been filed at the Supreme Court, demanding the recognition of the digital currency cryptocurrency in Nepal as well.

The United States (US) released a well-timed comprehensive bipartisan cryptocurrency (crypto) bill on 7th June 2022. What will be the future of crypto in the US and what can Nepal learn from the US?

Nations are not permanent and tend to collapse if positive political goods are not delivered to citizens. Nepal is moving in this direction.

KATHMANDU, April 26: The Nepal Telecommunications Authority (NTA), the regulatory body for the telecommunications and technology sector, has started taking action to control illegal online economic activities. The NTA has shut down websites and apps including online virtual currency (cryptocurrency), Bitcoin, hyper networking and online gambling.

KATHMANDU, March 15: The Department of Revenue Investigation has filed a case against two persons on the charge of trading in foreign exchange illegally.

BitGorkha: A Decentralized Cryptocountry

February 16, 2022 06:30 am

Nepal Rastra Bank recently released a directive banning any investment in or transactions of cryptocurrency to curtail fraud and illegal outflow of domestic capital. This is a regressive move on the central bank’s part because banning cryptocurrency is like choosing to opt out of something that will inevitably become part of our daily lives.

KATHMANDU, Feb 14: The Central Investigation Bureau (CIB) of Nepal Police has warned not to get involved in illegal online business such as cryptocurrency, hyper fund and digital networking among others.

KATHMANDU, Feb 9: The Nepal Rastra Bank (NRB) has urged one and all to remain cautious on the issue of cryptocurrency and networking transactions since it is an illegal act.

KATHMANDU, Feb 2: At a time when the government of Nepal has criminalized any form of transaction of digital currency, the neighboring Indian government has announced to introduce taxes in the introduction and transaction of digital and cryptocurrencies inside the country.

KATHMANDU, Feb 2: Police have arrested an individual on the charge of carrying out transactions of crypto currency, from New Road, Kathmandu.

KATHMANDU, Jan 26: Nepal Bankers' Association (NBA), the umbrella organization of the commercial banks, has said that the crypto, virtual currency and the network marketing business and transactions are illegal in the country.

KATHMANDU, September 9: Nepal Rastra Bank (NRB) has warned all concerned not to carry out transactions of the cryptocurrency in the country.

SAN FRANCISCO/NEW YORK, June 19: Facebook Inc announced ambitious plans on Tuesday to launch a new global cryptocurrency called Libra, part of an effort to expand into digital payments that immediately raised privacy concerns.

SAN FRANCISCO/NEW YORK, June 18: Facebook Inc revealed plans on Tuesday to launch a cryptocurrency called Libra, the latest development in its effort to expand beyond social networking and move into e-commerce and global payments.

Asia’s digital revolution shows no signs of slowing down. From e-commerce giants like China’s Alibaba and Japan’s Rakuten to ride-hailing, and digital payment tech startups, like Indonesia’s Go-Jek and India’s Paytm, and the widespread use of industrial robots for manufacturing, digitalization is changing the way the region’s businesses operate.

A Japan-based cryptocurrency exchange will refund about $400m to customers stolen by hackers two days ago in one of the biggest thefts of digital funds.