Nepalese internet and email providers were put on notice by the country’s telco regulator to block crypto-related websites or face legal action.
Nepal’s media regulator has ordered internet service providers (ISPs) in the country to block all cryptocurrency trading websites, threatening legal action for those who fail to comply.
On Jan. 8, the Nepal Telecommunications Authority (NTA) ordered ISPs and email service providers to block access to “websites, applications or internet networks” related to crypto.
He said that virtual currency transactions “have been increasing recently [translated]” and reiterated that crypto transactions in the country are illegal. Nepal Rastra Bank (NRB), the country’s central bank, declared crypto trading and mining illegal in a September 2021 announcement. “Encouraging” others to use cryptography is also a legal activity.
In April 2022, the NTA issued a similar warning notice about crypto websites asking the public to inform the regulator if they have information “related to the name of this website, application or internet network “.
In the announcement of April, it also threatens the law if it is “discovered who has done or is doing” things related to crypto, but it does not call for blocking access and crypto services at that time.
However, although crypto is banned in the country, Sept. A 2022 report from blockchain data firm Chainalysis found that emerging markets, including Nepal, are leading the way in global crypto adoption.
Nepal’s crypto adoption has placed it in the top 20 globally, ranking 16th overall ahead of the UK. Nepal is on the list of only nine countries that have banned cryptocurrencies outright, according to data from the Law Library of Congress in a November 2021 report. Other countries are China, Algeria, Bangladesh, Egypt, Iraq, Morocco, Qatar, and Tunisia.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up