Bitcoin illegal in Nepal

[Brenda Karenn]

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.

[gwyncox.81]

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

[ashahin7799]

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.

[blazsqd]

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.

[Aztek]

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.”

[Richard Thompsonn]

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

[Jonathan Greenn]

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.

[Lalapo08]

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.

[pjr77]

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.

[MrCrank]

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

[grabpopcorn536]

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

[saharan99144]

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.

[lobanoval]

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.

[Kethek]

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

[Buttermellow]

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.

[avtonomro]

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.

[oegarod]

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.

[genlocy]

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.

[dificanovi]

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/

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.

[billknight]

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