September 10: Nepal Rastra Bank has warned people involved in cryptocurrency trading and mining that such activities are illegal in the country. Issuing a notice on September 9, the central bank said such illegal activities are subject to punishment.
According to the Foreign Exchange (Regulation) Act, 2019, any sort of cryptocurrency trading and mining is illegal in the country.
The central bank said that it issued such warning after observing that some groups are actively involved in swindling people by encouraging them to get involved in cryptocurrency trading and mining.
"Cryptocurrency trading and mining and encouraging the illegal activities is punishable by law. Those swindling people through these illegal activities are subject to action," reads the notice.