Bitcoin illegal in Nepal

[carlo.p]

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/

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.

[1714956893]

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[1714956893]

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[mace15]

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/

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.

[Pandacomel]

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.

[smartbitcoininvestor]

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.

[fanbeila]

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.

[najmul33]

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.

[valisa]

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.

[PhucS]

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

[Don Pedro Dinero]

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.

[Vaflia]

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.

[PORN_coin]

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

[jerrison]

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.

[Timoteus]

More countries bitcoin is illegal
Next Russia

[crypto_Butterfly]

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.

[terrific]

More countries bitcoin is illegal
Next Russia

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.

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.

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.

[stompix]

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.

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.

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.

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.

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:

the suspects were trading bitcoins without authorization and the agency’s Deputy Superintendent of Police (DSP), Jeevan Kumar Shrestha says this is one of the first cryptocurrency arrests of this magnitude.

Again:

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.”

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.

[vaughn125]

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.

[intelligent.investor]

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

[adadaorlina]

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.

[Tantlizbat]

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.”