Cental Bank of Nepal calls bitcoins Illegal

[tsaroz]

Central bank of Nepal in its first ever response to Bitcoin and Cryptocurrency,  calls uses and transactions of Bitcoin by Nepali citizens to be Illegal. The main concern it shows is the export of National currency in International market for buying Bitcoins. Bitcoins have a great potential in countries like Nepal but Bitcoin is being unsuccessful in convincing governments and all the people.
The positive aspect is the concern naturally advertised about Bitcoins and surely the use will soar. Reminder: Bitcoins are already completely Illegal in India one of the largest economy of world.

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[MonkeyDOH]

is central bank of nepal doesn't allow bitcoin ? sources ?

[ramhari]

One of the popular technology websites in Nepal has written a very comprehensive study about bitcoins in Nepal and it's legalitites. It might be helpful for you (They got the proof from the central bank about) 

http://techsansar.com/computing/bitcoins-nepal-legalities-faqs/

[Nik1ab]

Definition of something being illegal: The government doesn't like it, because it could distract it's slaves from working.

[coi]

The Nepal Rastra Bank is concerned about Bitcoin eroding their currency. Since the Nepali Rupee is a restricted currency (pegged to the Indian Rupee - therefore the USD) there is no easy way for regular people to make purchases outside of Nepal. This is not just about online shopping, but paying school application fees, tuition, etc. Also, people will always find a way to get around the restrictions of the NRB....Hundhi anyone?

[x13]

Maybe Nepalese central bank got presure from China. It is not a secret that the Chinese government is fearing Bitcoin therefore it is very likely that they decree Nepal to do so too.

[medevlo]

Is it illegal to earn from signature campaign here and hold bitcoin in nepal ??

[avatar_kiyoshi]

Is it illegal to earn from signature campaign here and hold bitcoin in nepal ??

In my opinion, it's depends on how the govs make bitcoin illegal level. I remember to Bangladesh people who use bitcoin for transfer it to another address, they get sent to jail because for it.
So if the govs not make it illegal level strict, and not use for crime it will not problem.

[Bit1334271]

Is it illegal to earn from signature campaign here and hold bitcoin in nepal ??

I think its illegal but many still doing and holding bitcoin because I know many members which are using and doing this Government cannot check this

[Cresciuanto]

this news is quit new for me. hearing for first time. but i think not only Nepal's bank but so many other banks also considered it illegal. i think it is not something new about bitocin. but i am waiting for the news when states and bands will legalize bitcoin.

[wintermeasures]

Definition of something being illegal: The government doesn't like it, because it could distract it's slaves from working.

Haha yeah i agree, most government doesn't like bitcoin. But lucky for me, from my country bitcoin is not prohibited by the government would instead be used for the bank from my country. Thank you

[hermanhs09]

Central bank of Nepal in its first ever response to Bitcoin and Cryptocurrency,  calls uses and transactions of Bitcoin by Nepali citizens to be Illegal. The main concern it shows is the export of National currency in International market for buying Bitcoins. Bitcoins have a great potential in countries like Nepal but Bitcoin is being unsuccessful in convincing governments and all the people.
The positive aspect is the concern naturally advertised about Bitcoins and surely the use will soar. Reminder: Bitcoins are already completely Illegal in India one of the largest economy of world.

I have found it strange that they really do that kind of thing in July 2016.I though that already enough people
know about bitcoin and there are enough big fishes in btc buissness to not happen situations like that.
Well Bank of Nepal... they will prove you are wrong

[medevlo]

Central bank of Nepal in its first ever response to Bitcoin and Cryptocurrency,  calls uses and transactions of Bitcoin by Nepali citizens to be Illegal. The main concern it shows is the export of National currency in International market for buying Bitcoins. Bitcoins have a great potential in countries like Nepal but Bitcoin is being unsuccessful in convincing governments and all the people.
The positive aspect is the concern naturally advertised about Bitcoins and surely the use will soar. Reminder: Bitcoins are already completely Illegal in India one of the largest economy of world.

I have found it strange that they really do that kind of thing in July 2016.I though that already enough people
know about bitcoin and there are enough big fishes in btc buissness to not happen situations like that.
Well Bank of Nepal... they will prove you are wrong

"Well Bank of Nepal... they will prove you are wrong" i didn't understood what this line means ?? huh ?

[Digitalbitcoin]

I dont think that Bitcoin is illegal. Nepal is still poor country and have to make proper actions with economy.

World mostly tier 1 and 2 countries have start to accept bitcoin payment via micro payments.

Now the main thing what if government oppose to bitcoin ?

Firstly Altcoin is decentralized digital currency as no one control it. In major countries mostly government take control over currency, but bitcoin has change past and gives revolution to world's economy.

And government with poor economy will not allow bitcoin as currency due to political issue.

But it is future and it takes time to sustain it as well as accept it.

[romero121]

China and Nepal have good relation, for this reason Nepal won't take much effort to oppose bitcoin because china is the country which has the highest users as well bitcoin is used almost in a legalized manner.

[hermanhs09]

China and Nepal have good relation, for this reason Nepal won't take much effort to oppose bitcoin because china is the country which has the highest users as well bitcoin is used almost in a legalized manner.

Yeah that is true too,we need to remember that about 40% of bitcoin's are being mined in china.
It is possible that thanks to it,Nepal will really wont take much effort on it,we will see this in a short time probably.

[rezilient]

I dont think that Bitcoin is illegal. Nepal is still poor country and have to make proper actions with economy.

World mostly tier 1 and 2 countries have start to accept bitcoin payment via micro payments.

Now the main thing what if government oppose to bitcoin ?

Firstly Altcoin is decentralized digital currency as no one control it. In major countries mostly government take control over currency, but bitcoin has change past and gives revolution to world's economy.

And government with poor economy will not allow bitcoin as currency due to political issue.

But it is future and it takes time to sustain it as well as accept it.

Every Government is oppose to bitcoin but the only thing they can do is only ban it but people are still using it.