Nepal Bans Crypto-Related Activities: ISPs Ordered to Block Websites, Apps and Networks

• Nepal’s Telecommunications Authority has instructed all ISPs to block crypto-related websites.
• The crypto-related activities include websites, apps, and online networks.
• The nation’s central bank banned cryptocurrency activities in September 2021.

Nepal has recently taken steps to crack down on crypto-related activities in the region. The nation’s Telecommunications Authority has issued a notification to all ISPs instructing them to block crypto-related websites, apps and online networks. This decision follows the nation’s central bank banning cryptocurrency activities, including trading and mining, in September of 2021.

In April of last year, the Telecommunications Authority sought information from the general public about individuals and corporate entities participating in illegal activities, such as cryptocurrency. The recent caution threatens to take legal action against ISPs and email service providers that allow crypto-related activities to take place on their platforms. The government agency added that virtual currency transactions are prohibited in Nepal and that any activities related to it will be prosecuted as per the relevant laws.

The Telecommunications Authority has also instructed all ISPs to take necessary steps to block crypto-related websites and other activities. This includes blocking websites associated with crypto-related activities, such as cryptocurrency exchanges, wallets, and any other websites that are related to cryptocurrencies. ISPs are also required to block any apps and online networks associated with cryptocurrencies.

The government has also warned that if any ISP fails to comply with the order, they will face legal action. ISPs are also required to inform the Telecommunications Authority of any suspicious activity related to cryptocurrencies.

The ban on cryptocurrency activities in Nepal is an effort to protect citizens from fraud, money laundering, and other illegal activities associated with cryptocurrencies. The government hopes that the ban will help reduce the risk of financial crimes and help protect investors from any potential losses associated with cryptocurrencies.

Despite the ban on cryptocurrencies in Nepal, the country still has a vibrant cryptocurrency community. Crypto enthusiasts are still actively trading cryptocurrencies in the country, albeit in a decentralized manner. It remains to be seen how the government will respond to the increasing presence of cryptocurrencies in the country.

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