Bitcoin illegal in Nepal

[Majharul Saiif]

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.

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[JohnHero]

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/

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.

[derdgzmn30]

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

[dontoromeo]

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/

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.

[yohananaomi]

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.

[xiaopang11]

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

[stompix]

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.

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.

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

I hope they will gave up on making btc illegal

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

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

[Tambu]

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/

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.

[KingOfWinterfell01]

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 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.

[iamMhew]

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/

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.

[jemuyugo]

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.

[Firefox07]

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.

[icanscript]

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!

[ngerok]

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.

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

[Milletsky]

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.

[yuyuchain]

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.

[Kaan53]

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

[NeverSop]

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.

[kashwin663]

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/

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.

[AmericanBit]

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