Bitcoin illegal in Nepal

[Jembut Ireng]

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.

[Golftech]

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.

[rb26]

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/

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.

[Vika0170]

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/

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.

[Pejoh Asu]

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.

[Kakmakr]

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^

[Shreek]

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 ,,

[Saisher]

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.

[pugman]

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/

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.

[rcoins0720]

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

[jossiel]

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/

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.

[Shamie1002]

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.

[krishnapramod]

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/

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 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.

[esatceza]

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/

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.

[Maria_Martin]

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

[Ucy]

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.

[rido]

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.

[cxihub]

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.

[btcprospecter]

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.

[Semar Mesem]

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.