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Cryptocurrency illegal: NRB


Nepalnews
2021 Sep 10, 8:09, Kathmandu
The Bitcoin logo appears on the display screen of a cryptocurrency ATM at the Smoker's Choice store, Tuesday, February 9, 2021, in Salem, New Hampshire. After a wild week in which Bitcoin soared to new heights, Bitcoin is crossing the $50,000 mark. Bitcoin rallied last week as more companies signaled the volatile digital currency could eventually gain widespread acceptance as a means of payment for goods and services. (Photo via AP)

Cryptocurrency trading and mining both are punishable as it is illegal in the country, said Nepal Rastra Bank (NRB).

Any sort of cryptocurrency trading and mining is illegal in the country, according to the Foreign Exchange (Regulation) Act, 2019.

"Cryptocurrency trading, mining, and encouraging the illegal activities are punishable as per existing laws. Likewise, those swindling people through these illegal activities are subject to action," according to a notice issued on Thursday by the central bank. 

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