Nepal’s telecommunications regulator has ordered the country’s internet service providers to block all cryptocurrency trading websites, threatening legal action against those that fail to comply.
Nepal Telecommunication Authority ordered ISPs and email service providers to prevent access to websites, apps or online networks related to crypto.
Nepal Rastra Bank, the country’s central bank, declared crypto trading and mining illegal in a September 2021 notice. “Encouraging” others to use crypto is also an activity punishable by law.
In April, the NTA issued a similar caution notice regarding crypto websites, asking the public to notify the regulator if they have information “related to the name of such website, app or online network.”
Despite crypto being outlawed in the country, a Septembe report by blockchain data firm Chainalysis revealed emerging markets, inclusive of Nepal, are at the forefront of global crypto adoption.
