Bitcoin Forum

National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators

Source :- https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

This is not a good news but don't worry OP because bitcoin is getting broader and stronger.
From time to time they will surely regret it and will accept bitcoin in the future.

That's insane, but they'll get the opportunity to use or exchange bitcoin as they're found to be serving as a part of India. Those people will use the services from India for their needs. I too have a friend in Nepal, who is already a hesitant user. Now this could have made him stop using it.

Thank you.Thanks for your nice reply.
I am also thinking that some days ago bitcoin banned in china,then price some low. and now all ok. so, it couldn't effect on price of bitcoin. Its Behavior such as good.    8)

What? they just arrested the seven exchange officers, That's unfair, really unfair. They should have atleast order them to close their exchanges and give a damn law about it before arresting these people, what an ignorant government.

Not a good news for Nepalese.

Oh there i just known about communist government really not very friendly towards cryptocurrencies like Nepal hate bitcoin and China also hate that banned ICOs and his local exchange.

Not good news for anyone actually.


Then I'd say it would be having the effect they want.

If the bitcoin is illegal or ban in a certain country of course people will be arrested and face the consequence of defying the law especially if they open an illegal exchanges because it cant apply a permit to operate while bitcoin was declared illegal by their Central bank itself. We all know that it will be their government lost if they lift the ban even a little bit too late as bitcoin is keep increasing everyday but we cannot fight the government decisions except if you want to become a rebel.

Wel, it's upto the Nepalese government but i think they are going to loose out eventually on the benefits of bitcoin and not the rest of us. We cannot like the sasme thing at a  time and so if they've chosen this path i think we should leave them to their fate.

Heard from this recently, it's a shame really. According to the article they are waiting for an official announcement on the regulation of digital currency and in the meantime Bitcoin is just labeled as 'ilegal'. What I'm really curious now is what are these regulations going to be (if any).

Seems like at the moment, these news didn't had any type of impact on the market though.

The currency of Nepal is pegged against INR and most of the revenue comes through remittances by Nepalese nationals working abroad. The central bank is not very confident and competent as its yet to find its feet. The potential for bitcoin to move wealth (particularly the remittances), to a completely unfamiliar mode must have given the central bank cold-feet, that is why they had declared it illegal to trade in bitcoin quite a while back.
These arrests were just a result of the traders using bitcoin despite the ban. You guys should hold them in secret wallets, maybe trade a fraction using VPN if you want to continue earning. Seeing as it is going to be difficult to exchange it for real money legally, I think its going to lose much of its revolutionary value for the common man, which is unfortunate.

Although it is not a good news for everyone, i think Bitcoin is strong enough to get to a higher step. And now it goes up to more than $4500 USD, and it will get stronger.

I believe this is a great news to the crypto world. Having a country banning Bitcoin is no small matter, no matter what the reason, definitely people with Bitcoin in their country will be selling it off soon..

Nepal is just a small country and its rejection of Bitcoin and cryptocurrency for now is not a big deal, really! I am sure there will be other countries who will instead exploit the many windows of opportunities that can come in legalizing Bitcoin as what is happening right now in Japan. Those governments who feel threatened by the explosion of Bitcoin which is something they can not control (but can regulate) will be left behind and by the time they realized their mistake they are already left by the Bitcoin train and will be eating the dust. Sad that there are so many who are still close-minded on the financial revolution offered by cryptocurrency.

Banning Bitcoin in such country will not make a huge effect but this is a bad news tho, bitcoin people in that country will do everything they can so they can bitcoin again, how about using VPN or so, but how can this government banned bitcoin on their country? banning bitcoin related websites from the country's ISP? I guess countries have to regulate bitcoin for good purpose from exchanges not to banned them. lol

Corruption is always the root of banning bitcoin in such countries/third world countries. If the government observe that people used such technology's available in their country that sending money within the country or even outside of the country without fees or tax directly to them, then they will make a move to stop that, then banning bitcoin or some cryptocurrencies will be the caused.

Well, it's Nepal. I don't know what that is even going to do to the market, most people probably aren't going to care since a very large majority of Bitcoin's users are located out of Nepal, and I don't know if there is actually going to be anyone who is going to think of this as a major impact on the community. I would like to see why the men got arrested and if there is anything there related to some criminal activity (which then had an impact on the legislation within the country due to their misuse of it). I'm not saying they did anything bad, but you never know.

Even this country like Nepal banning Bitcoin and all over exchanges this is a bad news for cryptocurrency world that can be impact for Bitcoin value. But no movement yet hopefully it does not happen again like China banning bitcoin.

Sad news for those people who managing the exchanges because they try to earn but yet this is happen
Hope that this will not be a high impact in cryptocurrencies world and graph of behavior of coins like what happen in china's big thingy .....

I think this is not a problem, moreover I have never heard of bitcoin use in nepal is the biggest one, china being the biggest user can not affect bitcoin price let alone nepal.

This action would impact only in their country I don't think it will affect the big part of bitcoiners as what happen when China made their position, Nepal won't hurt that much in terms of national trade just not a good move I guess to their government or they are also trying to regulate or make some ways to implement rules with crypto currencies.

China is a bigger country than Nepal. Though the issue in China shook Bitcoin, it did not even last long. Bitcoin recovered quickly than anyone had anticipated. So if this will also happen in Nepal, I think that it will not affect Bitcoin that much. Bitcoin is a global thing and is not focused to these countries. This negative news will eventually turn into a positive thing. This will help the enlightenment of some Nepalese about Bitcoin.

Well, that Nepal is a small country, and why they need money in the Himalayas. And so the impact on the world will not be any in terms of bitcoin prices, so this is a problem only for them.

More and more countries are banned bitcoin then it becomes news and hot news that makes a lot of people curious and finally invest bitcoin. I know and want to invest bitcoin out of curiosity and hear the news that my country is planning bitcoin banned.

The Communist Party of Nepal (Unified Marxist–Leninist) is the leading party in the government coalition, but it is not seen as a communist state, because it allows for multiple parties. < multi-party system > The finance minister in Nepal, Gyanendra Bahadur Karki, seems to be from the old school Fiat supporter groups and things like Crypto currencies are deemed to be a threat.

They are missing out of a world of opportunities and additional tax income and they will just stay behind of new technologies, like the other third world countries. This is their loss, not ours. ^smile^

I think this is not good news ,,, but in the end nepal will regret it, because if you look at the prospect of bitcoin value at this time its development progressively better, although it goes slowly, and more and more people are moving to bitcoin ,, i am sure nepal sometime later will regret ,,

That's unfortunate for the nepalese bitcoin holders but it's not a serious set back for bitcoin in general in the future the government of Bitcoin will soon accept Bitcoin once adoption has become mainstream and many online store accepts bitcoin.

That's going to cause another panic sell, people who use bitcoin will have no other option but to sell their bitcoin and stop their business involved with crypto currencies now. I believe they can go to India and resume their crypto currency activities ,as there is no political issue with India and Nepal, and India doesn't have a issue with bitcoin as of now, so people in Nepal do have an option.

bad luck for those who are operators of big exchanges in nepal
it is bad for them
I hope nothing happens to the behavior of coins in the charts and in the graph like what happens to china last month that makes bitcoin price go down
and yet they will recover soon as the time goes by

Are you from Nepal? Upon reading the article it says that they were arrested for running an illegal bitcoin exchange. And this means maybe they aren't registered to the government of Nepal as profitable business and operating exchange.

Reading it deeply Nepal decided to ban bitcoin and they are looking at the innovation of cryptocurrency very different unlike other countries that are recognizing it.

Too bad news for the Nepalese but still there will be citizens there that will operate trades anonymously.

It's heartbreaking when some countries ban bitcoins. Even if these countries influences a big part or small part of the industry only. Maybe every banning of bitcoin may not affect the price. It still make some people worry about its process in being adopted or banned by every single country which is not possible.
But in the sense that maybe these countries are planning something good about bitcoin. Then it will benefit everyone in the near future.

It isn't about running an illegal Bitcoin exchange, it is about operating an exchange. On August 13, 2017, the Central Bank of Nepal, Nepal Rastra Bank (NRB) had published a notice that according to Bank Act 2001 and Foreign Exchange (Regulation) Act 1962 (FERA) Bitcoin is illegal in Nepal. Nepal's popular exchange, Bitsewa also closed their service.

About 30% of Nepal's GDP is from inward remittances. The Deputy Director of NRB cited with Bitcoin there is a high risk for outward remittance. Operating exchanges punishable up to three years, obviously Nepalese traders would move to decentralized/OTC platforms.

Condolence to them. Sorry to hear about this. Why do they ban Bitcoin while it can help their country grow? I believe they probably used Bitcoin for illegal purposes. Otherwise, some countries still allow people to participate in Bitcoin even though they do not accept it. This is a great disadvantage for Nepalese people.

I do not think that the bitcoin's ban in Nepal will affect bitcoin itself. I think that only Nepalese can regret it.

People need to stop disclosing their identities in hostile & lawless countries. Sometimes I wonder what wrong with people.
Why don't you research about an environment and probably find ways to protect your yourself before starting a harmless business there.

Memang mengapa bisa jadi ilegal apakah tidak ada izin dari presiden atau mungkin tidak diperbolehkan oleh publik ,, atau mungkin akan takut oleh masyarakat kaya semua dengan sedikit konflik.

Don't judge a book by its cover.
It might be something thats why they might have get arrested. Nepal government has not given any statement regarding this.
You can post anything on newspaper but if government confirms then we can get into any conclusion.

This is a shame another country has banned bitcoin. With the size of Nepal it should not have any affect on bitcoin as a whole. We can only hope governments to see the potential that bitcoin has.

I am saddened by the increasing number of news that the bitcoin banned state and the latest today is the nepal that follows China. But I do not see the impact of bitcoin drop prices because today it's actually priced up rather than last week.

It's really very sad news. But don't worry. Because nobody can't stop Bitcoin. Bitcoin getting more popularity day by day. Bitcoin being legalized different day by day. And I hope one day Nepal will do legal Bitcoin in their country.

Of course it won't affect Bitcoin. It may sound harsh, but Nepal is an utter insignificant country that will never be able to contribute to anything crypto related - no one in the western world will lose a second of sleep over this non news. Such actions point out the weakness of the government there, and directly also that there is a whole lot of corruption going on, which they at all cost want to keep thriving. If people there want to buy themselves into Bitcoin or whatever other crypto currency, there will always be a sufficient way for them to do so (think about the peer to peer market) - not even an entire crypto ban can stop this.

the OP did not include an important bit of information
from the first paragraph of the article  ::)

here you all go >

This week seven individuals were arrested for running illegal
bitcoin exchange operations in Nepal. According to Nepal’s
Central Investigation Bureau (CIB), the suspects were
trading bitcoins without authorization

Now there are a few KEY WORDS which will have to be noted here
because it seems a lot of people have not read the article....

ILLEGAL

WITHOUT AUTHOLIZATION

so I would take it that there are legal bitcoin exchanges and all
in all this article isnt even worth reporting on.

move along, nothing to see here

 ::)

Are you kidding  :o I never expected this kind of action  by Nepal police on Bitcoin exchange operators. Anyways this kind of action is not a good sign for Bitcoin Transaction in that country and also to the neighbouring countries also. As this wont affect the bitcoin prices but yes People will not take part in Bitcoin trading and Bitcoin activities as fear of getting caught by Police. Already there is lack of awareness in people regarding bitcoin and this type of actions will misguide the people in many ways.

Very sad news.This is bad news for Nepal. It's
There is no good news for Nepal. It will not be good for Nepal. A country can be much better by bitcoin. So its popularity is increasing day by day. I do not know why Nepal is making Bitcoin illegal. But I am sure the Nepal government will compromise after a few days and again they will use Bitcoin.

this news sounds more like "illegal bitcoin exchanges" than "illegal bitcoin" to me. and from what they have done about the people exchanging bitcoin illegally I can say my guess is true. although I am always skeptical of what I read on these so called bitcoin news websites. they usually don't care about their sources and it might just be a simple incident than a real thing! and it often is.

and the articles mention the arrest of exchange operators, so maybe they were doing something illegal like money laundering!

That's bizarre, I wouldn't know what to do if BTC was banned in my country. I find it awful that countries can "Ban" certain things like that. It's so stupid, people should decide themselves whats good and bad for them.

As much as we it is a big worry to see countries arresting bitcoin users i understand leadrship in these regards and because there are a lot of users who are abusing bitcoin in various countries where there are no clear cut regulation. Bit coin exchange entities in unregulated markets are making their own sells and purchase mark and it gets really difficult for traders. I believe if government can look it some of these are enact regulations then things will be easy

Oh wow, I never expected this. This is bad news for bitcoin and very bad review for the exchanges that are operating in their country. I wouldn't know what to do if bitcoin would be banned in my country.  :(

They'll eventually regret this decision, as bitcoin is evolving and ever expanding as a source of income and wealth. I feel bad for the Nepalese part of the bitcoin community, but unfortunately that's the path their government opted to take.

I'm sorry for you OP if you are in Nepal . This is certainly bad news for bitcoin. When Satoshi Nakamoto created bitcoin his intention was to replace the current stupid payment system, to have one global decentralized currency which any person can use regardless of their location, race , age , gender ...etc but yet countries like Nepal are arresting bitcoin exchange operators I say this is going too far something must be done about this!

I think it will not be too problematic, in fact the largest bitcoin users that china has banned bitcoin but bitcoin prices continue to rise so we do not need to panic excessive.

So China, Korea (ICOs), and now Nepal. Should we be worried?

Well, only china is banned I mean only the country but the people from that specific country will still use bitcoin even tue government bans the bitcoin.
Only it will be hard to hide from shitty gorvernment people because once you get caught then you will be like what the news said on the article mentioned of OP.

MISLEADING TITLE:

From the article:


Or in short, running an unlicensed exchange got them arrested.
Not holding bitcoin, not using bitcoin but operating an unlicensed exchange.

This will get you arrested even in Japan or Canada.

 

operator arrested, they did too far. I know crypto maybe threat to fiat but don't arrest the people unless they scammed other.
Agree with you, they will missing the opportunities
Edit: My country here just regulating about e-money, company who has service in e-money get frozen until the regulation is fixed. only that, no operator-arrest.
maybe nepali exchanger don't know yet, or just forget. At least give them first and second warning before arrest the operator

This was a very sad news not only for the countrymen of Nepal but also to us because there are people who pulling down bitcoin again. Nepalese also have the right to earn money, if the way they found is through the use of bitcoins then there's nothing wrong with that because that's a decent job.

And for those seven exchange operators, I think that it's unjustifiable for them to get arrested, they should be warned first.

You are mixing up a few things here. 1) China didn't ban or consider Bitcoin illegal. 2) South Korea didn't ban or consider Bitcoin illegal. 3) Nepal didn't ban or consider Bitcoin illegal. People here are title only readers, and as result of that, they infect other rookies with non information -- it's almost a plague. If you read through the article, you'll get the clue, and that's people running an illegal exchange operation, and as result of that, they got arrested. Is it really that difficult to figure out yourself?

Bitoin didn't pass Chinese problem to fall for Nepali baning it. Nepal still insignificant for bitcoin comparing to China. Bad news for our Nepali friends  ;D

How sad that bitcoin bitcoin in Nepal was become illegal. Perhaps, for what Nepal did was the same thing as Russia did before into bitcoin they banned it, then in a long run they've revoked it.

news looks legit yet why bitcoin price still soaring high? does negative news dont have effect on bitcoin now? or is it because of the fork news? i am really waiting for the btc dip but it just keeps on rising.

Even bitcoin illegal in Nepal bitcoin today keeps increasing its value. Yes this means that somehow it wont affect the price the demand of bitcoin. I think it is because of the upcoming hard fork news thats why price right now is increasing.

National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators

Source :- https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

Nepalese communist goverment not to friendly towards cryptocurrencies,this mybe because of it can give the chance for bad people or terrorist to dominate the country.

Corruption is always the deterrent to progress in third world countries. Bitcoin is the only disruptor to any corrupt government. So here's the hint: if any government bans Bitcoin or any crypto for the matter that enables receiving/sending money from/to the outside of the country, free from its prying eyes, then something's not right with that government. Spare us from your old-story money laundering and regulatory laws, blah blah blah.

That's really a sad news for bitcoin users in nepal.We could not understand that mostly countries having smaller economy are totally afraid of bitcoins and they are almost trying to ban bitcoin.We earlier saw that bangladesh,equador,bolivia banned bitcoin.They might be afraid  that they would not be able to regulate bitcoin users and they would have to suffer a loss in taxes due to bitcoin.

Totally opposite to this,big economic giants like japan have opened their doors for bitcoins widely either by legalizing or regulating bitcoin.Those smaller countries should realize that they would not be able to avoid bitcoin in a long run.

Don’t Be sad for those who are operators of big exchanges in Nepal. Because Lots of County’s are Still Illegal BITCOIN.
We can only hope governments to see the potential that bitcoin has. And make it legal.

I do not think the government of nepal should not act like that, my country bitcoin still illegal but I still can use bitcoin, because our government just give the appeal not to use bitcoin. so even though eligal I can still use my bitcoin.

I have read this information. The arrests have been made despite Nepal's lack of regulation on domestic digital money. Trading in Bitcoin and other digital coins is not illegal in Nepal, as it has no domestic currency regulations. It seems that the country does not have a positive view on Bitcoin but still does not want to ban it, perhaps fearing that it would disrupt domestic currency transactions. As far as I know, the regulator will probably impose a ban on all digital money transactions. This is just my subjective opinion

It seems that they have acted contrary to what happens in most countries, where what hasn’t been banned explicitly is assumed not to be illegal.

I don’t understand those who are against regulation because the alternative is a ban. Bitcoin is not going to legally stay in the middle of nowhere forever. Bitcoin was born as an alternative to the current system and people can use it even if it is banned but major bans in many countries would have a massive impact on its price because exchanges would be forbidden.

This is certainly bad news, but I think it is not necessary to pay special attention to it. Nepal not occupies a leading position in the global economy and his example unlikely to be followed by other countries.

Unfortunately
the desire of the government of different countries to control the money resources of the population is much higher than the desire to develop

Bitcoin illegal in Nepal. I give it time. Nepal will call for bitcoin and even though it doesn't get official the citizens will get involved with the bitcoin transaction without the government knowing.

More countries bitcoin is illegal
Next Russia

Probably yhat is because of money laudering. It has been used in money laundering even in past, I think the best way to avoid this situation is to legalize bitcoin and regulate it through laws. In my country its nor legal neither illegal. But we need our government to legalize it.

Indonesia did and Vietnam also will implement that bitcoin is illegal. I don't know what's happening on these countries, I hope that Japan and other Asian countries that just declared bitcoin is legal will not change their decision.


A very bad news, I feel sad for the Nepalese that are into bitcoin. The only thing they have to do is to regulate bitcoin and hire some experts for it's regulation.

All of you STOP spreading FUD.
It takes only 5 minutes to read the article.
The title is:  Bitcoin Illegal in Nepal? Police Arrest Seven Individuals for Trading Operations
See that ?

Now from the main article:

Again:

They haven't banned anything but exchanges that run without licences.
There were a bunch of teens that though about running an exchange to get rich and now that the central bank said no exchange without proper papers they went crying to facebook and all cryptonews blocks.
It's like I'm going to sell duck meat in the biggest intersection in the city straight from my bag and then when I receive the ticket I'll go nuts and say the government is banning duck meat.

Damn, this is such a bad news. I feel really bad for the crypto currency lovers living in Nepal. Making bitcoins illegal is just roo much and very illogical. It does not commit crimes. Why not focuse instead on bigger problems of the country than wasting time banning something that is actually very useful for everyone in Nepal. This just doesn't make sense. Clearly, they are just afraid of bitcoins taking over. Really cannot help close minded people from thinking and deciding based only on what they hate or like themselves. Just so unfair.

Nepal is a country that hugely depends on remittance from abroad obtained by selling workforce. The Country's major active cashflow revolves around remittance and remittance related organizations such as banks, financial institutions, remittance companies, etc and at the meanwhile cryptocurrencies has feature of transferring without any aforementioned systems which will be one of major reason of baning bitcoin.

But still baning in nepal on anything by governments has always been a failed attempt....whether it be baning plastic bags or vehicle horns....people still use it without hesitation

They seen as a threat to the economy i think, because Nepal is passing through a transition following a destructive earthquake in 2015, trade disruptions. Although economic activity rebounded strongly in Nepal in 2017, the country still faces increasing domestic and external risks.

The communist government of Nepal is not very friendly towards cryptocurrencies just yet, because Nepalese officials are in the midst of discussing regulatory guidelines. On October 6, 2017, a task-force from the CIB arrested seven suspects allegedly involved with running “bitcoin exchange” operations. The CIB explains that the operators violated the order of the National Bank of Nepal that stated until regulations are conceived bitcoin, and other cryptocurrency exchange businesses are “illegal.”

Its really a loss for them to regard bitcoin as illegal because when the right time comes bitcoin will come stronger and reach a new peak in price and i assure that they will regret it.

As far as I know, the Nepali nationals can travel to India without a Visa or a passport and work there. So what prevents them from selling their coins in India and then returning to Nepal with Indian rupee banknotes? After all, the Indian Rupee is widely accepted in Nepal.

That's bad news to our fellow crypto traders in nepal, But don't worry this news will not shake the crypto currency entire realm. So what's gonna happen to the exchanges? will the government shutdown those exchange platform and steal the cryptos?  ;D

Responding to the bitcoin legality in Nepal, do not worry, as long as the bitcoin community in Nepal is still much why not continue to access bitcoin. You can still earn dollars from bitcoin you have.

Yes India and Nepal has got such an accessibility. Ban might have got imposed upon Nepal, but still people continue to make use of it. Same as that of EU here in Nepal too Indian banknotes get used. So, without any form of issues Nepalites continue using bitcoin as well other digital currencies.

Its sad to hear this news. I think this is not only the reason that they banned bitcoin so they afraid that bitcoin can be use in illegal. There are many reasons i think the other reason is they protect also their people and they protecting their own currency. So its a sad news to the people in Nepal especially who are invest in bitcoin, but even if they banned bitcoin, some other countries can legalize bitcoin. We hope that soon they will able to return it the bitcoin legality.

many countries have laws prohibiting bitcoins in their favor with traders or exchangers who are not legitimate, they are too chronically involved in the trade and they do not share it right for consumers and most of these are scammers who are open-minded to work but they do not want to blame all those who have tradings in their country and will not get the bitcoin illegal here in our country

Maybe in any country ex. Nepal bitcoin be category "illegal" because in there country regard as threat for for national security

Another sad news. However, we cannot force people to do so. In any changes, it is not that easy for people for adopting new ideas or initiatives. Nepal may look at it as illegal for now but in due time, bitcoin will be widely accepted if all the developers of it will strive harder for people to embrace it.

Any country how wealthy they are that do not recognize bitcoin or cryptocurrencies potential is always a sad news.

I hope they realize the potential of crypto currency trading, it will help their citizen to have extra money for their families.

Many country accept but coin , but not make it legal or their have yet arrange a regularity...


Such as Indonesia, nepal & India

Bad news for Nepalese people. We'll see how it's gonna go

Poor Nepalese, that is a real blow. Completely agree, no need to imprison the Exchange Opps. Developing countries need to be able to be on board with crypto otherwise it's just  the same old story...

The Nepal government is threatened wi5 the existence of bitcoin in their economy. That is not good to know because bitcoin have a lot of advantages to offer. Digital currency has a lot of potential in the future and As we move towards the digital currency, together with other countries like Japan, Korea and Thailand; Nepal will be left behind.

I think there are a lot of countries where bitcoin is arrived but still it’s not registered there and its working there and the local people they are using bitcoin and some of the people they have changed their life’s just because of bitcoin and I’m sure bitcoin will also help Nepal in their economy so I’m sure that bitcoin will allow bitcoin in their country because Nepal economy is also not so good and with a passage of time they will make bitcoin legal.

This is bullshhht the greedy banks started to get alarmed,governments should regulate not totally banned it.

I hope they will gave up on making btc illegal but even if they insist one way or another it will find a way to be adopted cuz it gives hope to people and people don`t give up on it.

I know that many countries prohibit bitcoin in trading and trading. In my country too, you will be subject to administrative fines or criminal penalties if you find yourself trading and exchanging with virtual crypto coins. I am really disappointed with our government because they have a wrong strategy to prohibit the use of bitcoins as well as other virtual currencies.

It's really a bad news for us Nepalese because a lot of our economy depends on Remittance. Instead of banning cryptocurrencies Nepal should embrace them because then the families of Nepal can receive money for very little exchange fees and transfer charges... Traditional services like Western Union charge more than 10% of the money in Remittance. It'll benefit the people of the country and as the people get richer, the government will benefit from it. It's really a no-brainer to ban it.

Cryptocurrencies will disrupt a few markets and cause a little damage to the economy too but the pros overcome the cons and it will benefit much more considering the economic portfolio of Nepal. Since Nepal's economy is also heavily linked with tourism, more tourists will flock into Nepal each and every year because it'll be a lot easy for them since currency exchange is the biggest problems they are facing right now. They have to pay a lot of exchange fees to the exchanges when they come to visit Nepal and convert their currency!

This news is totally frustrated for Nepalese people.Still my country don't accept Bitcoin as a currency and don't legalize this.But it is very sorrowful matter.

Sooner or later what's illegal now will become legal and we will all laugh about it. Nothing is easy at first, with time all these problems will be solved.

This is bad but I think in the near future they will legalize bitcoin

It seems a bit unfair, because I bet that while not all are for illicit purposes, many who fell maybe just wanted to try their luck and achieve their precious financial freedom.

Indeed, every policy of each country is different, because they must think about what will happen if they will legalize or not legalize.
but in many developing countries they usually receive the coins but they do not legalize.
in fact by not banning the coin but not agreeing as a transaction is not too much of a problem.

Very sad to hear that, but now the currency in the world did not fully support, many people don't know what's the currency, they think it's a way to cheat money, this may be the reason why some countries don't support the currency

And how does this work ???
Since most remittances are less than 400 a month..

You exchange money earned for bitcoins (pay a fee) then you send those 380 worth of dollars in BTC , pay tx fees, receive 370$ then less them an exchange, and receive 350$ because of the difference in buy sell price on small exchanges.
Seems to me like more troublesome than MG or WU.

And if you would be using an international exchange it makes no sense since you would need a bank so it would have been easier just to make a bank transfer.

Besides, I've never heard that a country can get rich from remittance money, which is usually earned from low payed wages in foreign countries.



How about you read the article?
They targeted an unlicensed exchange. Nothing more!
Not bitcoin users or owners.

It is a sad news for Nepali. Btc could help their citizen though.
Maybe their government just wanted to put tax on it but there is no draft yet how to do it.

This is sad news specially for the people of Nepal. Just like China being banned of bitcoins. But I do hope the people in their government lift the ban from bitcoins and other cryptocurrency to allow their people to start investing on digital currency. It will be a lot of help specially to the middle class families.

sad to hear, i think government of NEPAL are afraid to getting involve in bitcoin because they are not have any knowledge about bitcoin, anyways dont worry about that, sooner or later they will realize that they will totally accept this bitcoin because we are all in modern world. and to move with freedom, your country will realize that bitcoin is the key to become more successful in the future.

I think for a few years they will regret the bitcoin and block chain technology. Block chain technology will be the future of the global money industry and the whole world will use all electronic money and cards.

I feel sad for people in nepal. They cannot earn money from bitcoin now. But life goes on for you guys. Maybe there is something that is alot better than cryptocurrency thats reserve for you. Hopefully your government will realize that bitcoin is good. Especially for those unemployed people.

This is bad news. The Communist government of Nepal is not very friendly with respect to crypto-currencies. For enthusiasts and crypto currency enterprises trying to work in Nepal looks grim, at least until the government reveals its regulatory requirements. But I'm sure that when bitkoyn starts to be legalized in other countries, the situation in Nepal will change for the better!

so true, with the unemployed Bitcoin can earn money and can meet the needs of his life, but why do many countries forbid Bitcoin? I am very sorry about this news but in my country Bitcoin also has not been accepted and considered illegal.

I hope the country that forbids Bitcoin to think again, Bitcoin is a lifesaver for unemployment and Bitcoin can make a country more advanced and rich

I am really sad when i heard this news because that's the time that we started to plan in investing bitcoin with my Nepali colleagues.

I think this is a normal news. Although bitcoin is growing rapidly, there are still many countries that ban such as China, a populous country. So if bitcoin is to become a digital currency to increase its operations, it may be more necessary for the countries stand by.

Not only in Nepal but also in other countries is illegal, but I believe that soon will be legalize bitcoin.

Most countries in the world have not yet adopted and have policies to prevent bitcoin and the cryptocurrency market due to unmanageable concerns and corruption. This hinders the access of people to the very hot new global financial market that is a blow to them. I believe that in the coming time countries will have policy changes to reach the cryptocurrency and bitcoin markets.

yes...The main cause that bit coin is considered as illegal must be national currencies getting invested on bitcoin generated by foreign and the economy gets unbalanced inside the country.

Yes all this is turning into modern trend, it just seems like part of global policy or something.

Many countries are being like this. Even my country also banned bitcoin transaction, and currently making a regulation that suits the best for bitcoin user.
I hope they won't catch and prisoned us though, just a little warning maybe?
Kinda sad for nepal people. Why's not every country can be supportive like japan or america?
I hope there will be something that can make btc doesn't considered illegal anymore so none of these things will happen again in the future.

So in some countries it is banned and in others it is getting more accepted, so do not worry.

This is normal. Bitcoin is now forbidden to trade in many countries. However, there are still many people who invest in it, so this does not have much impact.

There are still uncertainty in bitcoins and it is unfortunate to be illegal in Nepal. As more countries are opening to bitcoins, hopefully the government will re-consider on the decision and legalize them. 

bitcoin will still operate and function despite of the number of countries that charge it as illegal anyway. i think they're seeing bitcoin as a threat.

isn't Nepal occupied by China or something? So Chinese run the place... :(

the bitcoin is not illegal in nepal but the nepkoin is just a bit of a nepal because the nepal wants their government to control the price of bitcoin that bitcoin does not want to get it in the nepal country.

I think they do that because they were found something unusual hapened to their country and I think bitcoin is the main reason ...
We cannot blame them because bitcoins technology and how it works can use in illegal thing and crimes..
Maybe whi knows.. it is the one thing nepal can do to fight those people who and in order to protect their citizens against for example money laundering etc.

Bad luck for those exchange owners it is sad to know

Just like what other said they all know that there's a valid reason why they banned it just like that if they found something unusual beacuse of bitcoin. For me it is better if they don't banned it becausw bitcoin is the main reason why there are so many people that are now rich and successful.

I agree with you for that reasons about many people turns out rich and successful because of bitcoin, and now if they will impose a banning for it I guess the government leaders have a personal and greedy intentions. For whatever reasons it is, the bad leadership is a failure to the people who depends on their government of Nepal. Politicians hated bitcoin digital currency due to untransparency and everything with its transactions were all encrypted, that's why some countries strongly avoided their citizens to participate with this type of digital trading. However, in my personal insights there's nothing wrong about using bitcoin and in fact many people improved their quality of life because of this.

in my country bitcoin is still illegal, because our government only give a call not to use bitcoin for tool tranksaksi sometimes there are still many bad issues about bitcoin but still we have to think positive. so even though illegal bitcoin can still be invested. I do not think the government of nepal should not act like that, hopefully bitcoin is cleared around the world.

I think this news is bad news for crypto world and also for users of Nepal. Bitcoin is a development of a country's economy. It would have little effect on the price of banning it in Nepal. Nepal does not know why the government is banning it. But they think that they are used for crime and terrorist activities. I think they realize that it is used for the benefit of the nation and the nation, Then it will legalize the use of it again.

It is likely that the country has so many foreign tours to take to Nepal tourism, which we know that the country has many attractions that attract tourists to visit, and they are willing to legalize bitcoin for the convenience of foreign tourists ...

I hope they are arrested because they were trading before there was a new rule into practice.

If indeed it is illegal, it is unfortunate.

Nepalese banks totally control the government of Nepal. The finance minister is a former chief of the national bank. He graduated from the old school and means business.

Sad that poor countries with poor bureaucracy will not let its citizens prosper.

A country is free to give legal or illegal status to bitcoin. It all depends on the readiness of the country itself to face the globalization of the crypto currency, especially bitcoin. A country that can not provide control over the circulation of crypto currency is better not to give legal status to this crypto currency. If the state can not regulate the circulation of crypto currency then there will be losses in that country. Because so far, crypto currency is often used by people who are not responsible so that the state can not control the crimes committed by irresponsible people.

if nepal does not legalize bitcoin i think its not a problem since nepal is not including biggest country of crypto user. but we are obliged to appreciate how the regulations in each country apply, but different if korea or japan does not legalize bitcoin will certainly greatly affect the crypto in the future even in the world.

bad news, then if Bitcoin is illegal, then do all Nepalese, who have BTC will be in jail?
are they said to be criminals?
this is not fair ,  if Bitcoin illegal without reasons

Good Day!
In this issue they might have some other reason about it.
Based on what I've read in harrotools.com this is illegal by the fact that the business of Nepal is hard to monitor.

In fact, the black money can be taken into another country easily with the help of bitcoin. Hence, drug trafficking, fraud and another criminal activities can be increase with the use of BTC.

In addition to this information, Nepal has its own rules also that until regulations are conceived bitcoin, and other cryptocurrency exchange businesses are illegal. Which is some of the people that wants to against the law is now violated to it.

This country is just only protecting their own safety especially with their own currency.

They're not only the one that do the same things some other country also do the same things, in order to protect their own currency and the money of their co-people.

And who cares? It is only in Nepal, and only 7 Transactions. I thing it is pretty ease for nepals people to use some tricks with their IP addreses and other stuffs, to make their transactions secure from police and etc.

If Nepal does not want to let the BTC currency into its economy, then there is no need to force them. BTC can do without them, it will grow anyway, you just have to wait

I think this is too cruel, bitcoin is not a crime although most people think that bitcoin is just a tool used as money laundering but no news justifies this.
The Nepalese government does this because they feel that even if they legalize bitcoin or crypto trade, they can not take advantage of trading.
Unless the government in Nepal implements high taxes as the Indian government does.

Of course it won't affect Bitcoin. I do not know why Nepal is making Bitcoin illegal. But I am sure the Nepal government will compromise after a few days and again they will use Bitcoin.

I think it’s the old news even op posted in 2017 October after that bitcoin reached peak by reaching 20000$ . I don’t know who has bumped this even somebody is reading this now no need to get panic now bitcoin pump is stated now.

this seems to be bad news for the development of bitcoin markets in the fastest countries, but on the upside if the government of nepal gives way to bitcoin then the development of bitcoin in the country will surpass the development of other countries adjacent.

Such light and reckless bans on the part of individual states arise where the administration is authoritarian, where officials are not responsible for their decisions to the people and where citizens' rights are easily violated. In order to keep their people in obedience, such a government will prohibit the crypto currency. In civilized countries, such prohibitions are no longer possible. As much as such a government does not want to ban crypto currency, it has to reckon with the opinion of the people if it wants to stay in power and at the next elections. Therefore, in such countries as Nepal one must expect the process of democratization of society, then the crypto currency will be legalized.

since October 2017 bitcoin in nepal is considered illegal, seven Nepalese citizens are arrested for running illegal bitcoin transactions. The suspects sell unlicensed bitcoins and violate Nepal National Bank regulations stating that until regulation is in place, transactions with bitcoin are illegal.

This arrest continues with the addition of two suspects who run a bitcoin company in Nepal named Bitsewa Pvt Ltd.

It's really very sad news. It will not be good for Nepal. A country can be much better by bitcoin. So its popularity is increasing day by day. I do not know why Nepal is making Bitcoin illegal. But I am sure the Nepal government will compromise after a few days and again they will use Bitcoin.

It's really very sad news. But don't worry. Because nobody can't stop Bitcoin. Bitcoin getting more popularity day by day. Bitcoin being legalized different day by day. And I hope one day Nepal will do legal Bitcoin in their country.

Governments can shut down websites; they can arrest exchange owners; they can make onboarding hell; they can tax it as capital gains. Governments cannot stop an idea whose time has come. Crypto is not very liquid these days but it's a matter of time. For example, have you heard about Paytomat? Paytomat will streamline the process of accepting the payment in crypto for the merchant, and give an extra incentive for the customer to pay in crypto of their choice with no extra conversion.Basically, it is a Decentralized System for Cryptocurrency Payments. I've checked their team and partners, quite impressive.

Even such small countries in comparison with others, went to this serious step of legalization of bitcoin in the country, can happen with any this cryptocurrency, so I recommend once again to recheck everything.

In the event that the bitcoin is illicit or boycott in a specific nation obviously individuals will be captured and confront the outcome of challenging the law particularly on the off chance that they open an unlawful trades since it cannot make a difference an allow to work while bitcoin was proclaimed illicit by their Central bank itself. We as a whole realize that it will be their administration lost in the event that they lift the boycott even somewhat past the point of no return as bitcoin is continue expanding ordinary yet we can't battle the administration choices with the exception of in the event that you need to wind up an agitator.

I do not think this is a problem) What is the turnover of bitcoins in Nepal? I think that is scanty

Not good for the investors and enthusiasts of Nepal as their government has strong negative perception against Bitcoin and cryptocurrency as a whole. I think their decission might change in the near future if Bitcoin or blockchain technology will used for any purposes in a all countries arround the world. I think Nepak is not really a big player in this industry but still I believe they have huge Bitcoin community too but unfortunately having trouble now as it becomes illegal to trade Bitcoin in that country.

It's not the first time that Bitcoin become illegal anywhere. It won't change much, especially if it isn't a big developed and influencing country.

For example: In Venezuela Bitcoin is not forbidden, but if they find out you have mining hardware, they will take it from you and maybe put you in jail. Then, they will use that hardware for themselves in the private farms they have making full use of the extremely low electricity costs to profit.

Remember guys and girls, communism is equal poverty for everyone - Except the leaders and their friends/family.

I am not worried about bitcoin status in Nepal, it's rather a funny country with government failing to make the inhabitants happy by providing them with even basic needs...

with this event in nepal I think it will affect the movement of bitcoin in the future although not significant. but of all the news it is impossible to control prices globally and have a thorough impact on people using bitcoins

But it becomes a pride for countries that do not accept Bitcoin until now. I really appreciate it.

yes, with news sources that in NEPAL, illegal bitcoins and local authorities prohibit citizens from using bitcoin as a transaction and should not have it, but I think this news will not affect the bitcoin price movement to lower the price further, so other than d NEPAL many other countries legalize bitcoin as an investment or can use it as a means of payment, although it is new in some countries only.

Hopefully it makes the price does not decrease, because you can see for yourself the price of the day has decreased is not good.

Nepal is a small country, so it doesn't matter whether it is illegal or not. The price of bitcoin depends on what the big players think such as China and India.

come on!
they don't understand nothing. Well, I don't care they will remain behind technologically...
that's not an opinion it's a matter of fact!
bad for them!

damn one new country that againist bitcoin for be the currencies, i think i know that they will make their country safe from the criminals that using bitcoin but maybe they should find the another way to do it, like make the limitations int heir country ot KYC in that country, so they can make the monitoring if bitcoin used for criminals

this is the same as happened in china, the government banned bitcoin exchanger. but there is still a chance, if still can keep the coin in the wallet, can to exchange it in the country receiving bitcoin.

That is sad, :( They are taking a cue from India which also placed restrictions on bitcoins.Plunging those who already depend on btc as a means of livelihood back into poverty.

Really its very very sad news that bitcoin is illegal in Nepal the Nepal national bank take action if its true than its not good the government authorities and bitcoin authorities must be talk with each other and clear all the issues with both parties and resolve these issues.

It is sad to see those cryptonists being jailed but I think they could've easily follow government rules or left Nepal for another country that is friendly with crypto currencies. Nepal is still not finished with its plan to make regulations on crypto currencies and hopefully it will happen sooner than later.

Good luck with travelling with bitcoin then. One day something similar may happen to you travellers: one day you buy your local food or shelter in Nepal or China with your bitcoin and the next day you go to jail for trying to do the same.

This kind of news are really affecting the reputation of bitcoin but it doesn't mean that it can fall for it. Bitcoin are used before for some illegal transactions but as time goes by, it changes into a good source of income. Maybe in Nepal there are some regulations and rules that can't fit with this coins and probably because of it's anonymity.

I am always sighing, when I hear something like that from news, because it postpones the day, when bitcoin will takeover whole world and became accepted everywhere at the globe.

This is bad news for Nepal.  I wouldn't know what to do if BTC was banned in my country. I find it awful that countries can "Ban" certain things like that. It's so stupid, people should decide themselves whats good and bad for them.

 

there's really no bitcoin in the country we can not touch on here but we still think that bitcoin will stay solid enough for many who believe it.

Yeah. I have heard that bitcoin is illegal in Nepal. Which is really a bad news. Not only in Nepal but also in some other countries bitcoin is illegal.

Bitcoin is like a drug, no matter how many times you ban it, people will still use it.

financial regulator of the country Nepal Rastra Bank in 2017 issued a decree banning operations with crypto-currencies. This was also preceded by the arrest of seven people allegedly involved in the management of crypto-exchange trading floors in Nepal. they face fine and imprisonment.

guaaoo guys I'm surprised and bitcoin yego to monte everest the truth that I already imagine the Tibetan monks using the fence that we go to the whole world, the bad thing is that the exchange houses that is what a nregro market and sure they will change it in the countries close to the one where if they accept it, bitcoin has no borders, I hope that the government of that country will legalize it so that they can join the crypto faster and see the advantages of the chain of blocks and implement it in their country.

I heard that as early as 2017, the government of Nepal issued an order banning operations with crypto-currencies. leading bitcoin-exchange announced the termination of work and returned money to all users, citing compliance with the law. As a result of the ban, 7 people were arrested and brought to justice.

I strongly agree with your statement, I also think that nepal is a small country and the percentage of bitcoin users in the country is also very small therefore I am sure that the ban will not have any effect on bitcoin, then I know that country is forbidden to exchange bitcoin but they are not forbidden to keep it. this is still a not so bad news

Bitcoin's popularity in the international community is the trend!
The actions of marginalizing and illegalizing Bitcoin are all acts of retreating and blocking the country. These actions will lead to further economic decline. Blockchain technology also lags behind other countries!

Yes, indeed the use of bitcoin especially in NEPAL needs to be regulated so that there are no casualties in the midst of technological developments and millennium generation are turning to online commerce.

That's a sad news. But I'm not so surprise about this because Nepal is a peaceful country. It is said that people living in Nepal are the happiest citizen in the world. So I think the Government of this country does not want any things threaten their country.
Ignoring Nepal, nowadays, they notice more about Korea  ;D this country will be a heaven for crypto. Just look at what Korean Government did and you will understand why:
https://btcmanager.com/south-korea-may-launch-dedicated-cryptocurrency-zone-for-companies/

Yes, the Nepal Central Bank views Bitcoin trading as illegal. On October 6, 2017, police detained 7 people involved in allegations of virtual currency transactions. The CIB explained that these people violated the Nepalese central bank rule with the announcement that Bitcoin trading and other virtual currency units were illegal.

I do not think the government of nepal should not act like that, my country bitcoin still illegal but I still can use bitcoin, because our government just give the appeal not to use bitcoin. Nepal not occupies a leading position in the global economy and his example unlikely to be followed by other countries. This is just my subjective opinion

Yes, the government of Nepal declared Bitcoin illegal.They think that due to Bitcoin, their economic condition will be damaged.Their notion that inflation could take place.Besides, Nepal is not a developed country, so they are not aware of technology.

I feel really bad for the crypto currency lovers living in Nepal. Making bitcoins illegal is just roo much and very illogical. It does not commit crimes. Why not focuse instead on bigger problems of the country than wasting time banning something that is actually very useful for everyone in Nepal. This just doesn't make sense. Clearly, they are just afraid of bitcoins taking over. Really cannot help close minded people from thinking and deciding based only on what they hate or like themselves. Just so unfair
Its really a loss for them to regard bitcoin as illegal because when the right time comes bitcoin will come stronger and reach a new peak in price and i assure that they will regret it.

Based on my research they say that nepalese government are not friendly to cryptocurrency and they say National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators
The communist government of Nepal is not very friendly towards cryptocurrencies just yet, because Nepalese officials are in the midst of discussing regulatory guidelines. On October 6, 2017, a task-force from the CIB arrested seven suspects allegedly involved with running “bitcoin exchange” operations. The CIB explains that the operators violated the order of the National Bank of Nepal that stated until regulations are conceived bitcoin, and other cryptocurrency exchange businesses are “illegal.”

While some governments are working to improve the regulatory framework for handling and regulating Bitcoin, the following five countries are determined not to legalize the codified currency: Bangladesh, Bolivia , Ecuador, Kyrgyzstan and Nepal. Nepal is one of the countries where bitcoin is illegal

Currently, Bangladesh, Bolivia, Ecuador, Kyrgyzstan and Nepal are five countries that have not legalized Bitcoin because lawmakers are still vague about censorship regulations. Recently, nearly 10 peopl involved in Bitcoin-related transactions were arrested by Nepalese police and are being accused by the government of violating the rules of Nepal's central bank: Bitcoin and other types of cryptocurrency are illegal.

Indeed, every country has its own policy. It is the state's right whether to give legal or illegal status to bitcoin. The policy should be taken with clear reasons. But if I look at the future of bitcoin, now the bitcoin development team is making improvements to bitcoin in order to restore public confidence and can compete with other crypto currency coins. I am sure if later bitcoin managed to make improvements by presenting new innovative technology then there is no reason for countries that provide this illegal status prohibits bitcoin, including Nepal.

Unfortunately, this is indeed the case. Moreover, seven people were arrested, who were involved in operations with the crypto currency. In this regard, the large Bitsewa exchange had to cease its activities, which its management reported on the official website and Facebook, and they also promised to return to users all the funds on its accounts.

I think this is not impotant news. May be I'm not right.
This is can't affect to Bitcoin price IMHO :) Right?

In my country when using Bitcoin to transact and transfer money through the bank is considered illegal. This makes trading Bitcoin difficult and time consuming, affecting some investors in the country.
But all is still optimistic about a bright Bitcoin

Not yet. Most of the country still thinking how to regularize the bitcoin and how it will impact their please wait amd find alter option to convert nepalese currency to dolars or other and start mining.

I heard about this news and I do not think that it will affect the price globally. However, people there will now have to use sites like local bitcoins.

a good step if nepal also go legalize bitcoin more and more countries that legalize bitcoin will be brighter future bitcoin of course I hope this kind of thing can make bitcoin price rise again

Well we do not know why it happens on Nepal but i am pretty sure that they had their reason why they put bitcoin to as an illegal maybe the system has been use in illegal activities so it could be something to put it that way. Anyway i know that they will come up with an idea on bitcoin and literally regulating the system is one of the best thing to do like USA and other countries around the world.

The economy there is already very bad and I do not think that people can invest much in bitcoins ? Is there any way to get stats regarding bitcoin users from different countries.

Nepal is one among the country similar to Bangladesh imposing a ban upon the usage of bitcoin. Still citizens of both country continue using bitcoin through different other ways, in most cases they use the easy entry into India as a gateway to use bitcoin.

This is sad news for Nepal people,but there are always open another way so if the bitcoin user in Nepal want they can use it,Nepal government not coming to check their computer. :P :P

they will regret it for having done such a ridiculous thing and almost all the people in the world are bitcoin active users just for example their neighbor country is india, i'm sure they will soon follow the Indian society slightly ahead of them. and they will regret for being late to realize that bitcoin is a guarantee of a better future.

I have heard a lot of information that countries are banned from Bitcoin. But in the future, these countries will change their mindset about Bitcoin. They will realize that Bitcoin and blockchain technology are actually beneficial to their country's economy

This is not good news for us. It's not good for Bitcoin, it's not good news for Nepal, Bitcoin needs a lot for a country's development. so I think as soon as nepal government legal permitted  bitcoin in nepal.

This is extremely normal. Bitcoin is currently only banned in some countries but still a lot of investment. But that bitcoin is banned but still be user people accept them. so this does not have much impact.

That sounds a bit naive when you consider that it can directly negatively affect a fiat currency issued by the government. Having less control over isn't going to sound like it's beneficial to them. Them being the ones in power.

By the way, the stock exchange had no choice but to stop its activities. The Bitsewa team removed all information about users from their servers, and also sent instructions to all clients about how they can withdraw funds to other addresses.

Yes, it is not good news for every Nepalese bitcoiner.  I wish that one day your government will accepted bitcoin. I think your government have valid  reason why banned bitcoin there just respect them. Don't lose hope maybe one day they realize the benefits given by bitcoin.

Currently there are many countries banned Bitcoin transactions. Maybe because they fear their country's economy will be damaged because of Bitcoin, they fear the scam, I hope the country will no longer prohibited Bitcoin transactions anymore

China is also illegal bitcoin
Despite being one of the world's largest bitcoin transactions in the world, the Chinese government banned the use of bitcoins. However, this ban applies only to banking institutions and employees so that Chinese citizens in general can still transact legally.

every country has their own opinion about bitcoin, nepal may have considered good and bad bitcoin

Bitcoin is legal in china but you can't make financial transaction with it or sell/buy for local fiat.

Same is in India, they have recently made this ban.

Nepal is different story, they completely ban the use of bitcoin for anything. Many people are still being arrested there.

Asian countries have psycho government.... ;D

It is bad news for every Nepalese bitcoiner cause there government did not accepted bitcoin in there country. I hope in coming future it will give  approval to bitcoin to enter your country I think your government have valid reason to banned bitcoin there.

This is not a good news but remember that this is not the end for bitcoin and for nepal.  In time,  as other countries will accept it as currency,  other countries will follow too and will declare it as legal someday.

Nepal is not a high weight on crypto, so i think that this is more than irelevant and it does not affect the market, so those are not news at all

Yes some countries including china turn bitcon as illegal but i am sure that very soon the will revise their decision and will very soon make bitcoin as legal currency, because in china the bitcoin users are more than any other country and on other side bitcoin is the need of the modern time therefore every country have to accept the reality and therefore very soon they will chance their decision to consider bitcoin as legal currency.

Bad news bit they will realize blockchain's positive impact as it matures and innovates and they might revert.

Its quite unfortunate that Nepal is missing out on the good fortunes BTChas to offer, BTC currently need s all the help it can ge, but if Nepl feels it athreat to its young economy then too bad

Nothing to worry about because it is just temporary and if the government in Nepal will see that bitcoin is keep on progressing and reaching new milestones and achievements then they will reverse the order or law about bitcoin and they will unban bitcoin and make it as a legal currency in their country just like Japan did on bitcoin as a full legalized currency.

That's unfair because there are so many people who want to own it