Nepal Bans Crypto-Related Activities: ISPs Warned of Legal Action

• Nepal’s Telecommunications Authority has instructed all ISPs to block crypto-related websites, apps, and online networks.
• The central bank of Nepal had earlier banned cryptocurrency activities in September 2021.
• The government agency warned that legal action will be taken against ISPs and email service providers that allow crypto-related activities to take place on their platforms.

The government of Nepal has recently taken steps to prevent crypto-related activities from taking place in the region. The nation’s Telecommunications Authority issued a notification on January 8th to all Internet Service Providers (ISPs) in the country informing them to block all crypto-related activities, including websites, apps, and online networks.

The move comes after the nation’s apex bank, the Central Bank of Nepal, had banned cryptocurrency activities in September 2021, including trading and mining. In April of the same year, the Telecommunications Authority had also asked for information from the general public about individuals and corporate entities that may have been participating in illegal activities, such as cryptocurrency.

The latest warning from the government agency threatens to take legal action against ISPs and email service providers that allow crypto-related activities to take place on their platforms. The agency said that virtual currency transactions are not allowed in the country, and anyone found to be partaking in such activities will be subject to legal actions.

The government of Nepal has taken a clear stance on cryptocurrency activities, and its latest move is an attempt to ensure that such activities are not taking place in the region. The government is also concerned about the potential risks associated with virtual currency transactions, such as the potential for money laundering and other criminal activities.

In order to ensure compliance with the government’s orders, the Telecommunications Authority has asked ISPs to block crypto-related websites, apps, and online networks. The agency has also asked ISPs to monitor their platforms for any illegal activities involving cryptocurrency.

The government of Nepal is committed to ensuring that its citizens are not exposed to the risks associated with cryptocurrency activities. The latest steps taken by the authorities are a further attempt to ensure that crypto-related activities do not take place in the region. The government’s stance on cryptocurrency is clear, and it is important that all citizens comply with the rules and regulations set by the authorities.