Nepal’s telecommunications regulator has ordered the country’s internet service providers (ISPs) to ban all cryptocurrency trading websites and threatens legal action against those who do not comply.
The Nepal Telecommunications Authority (NTA) ordered ISPs and email service providers on January 8 to block access to “websites, apps, or online networks” related to cryptocurrency.
It stated that virtual currency transactions “have increased in recent days [translated]” and reiterated that cryptocurrency transactions are illegal in the country.
In a September 2021 notice, Nepal Rastra Bank (NRB), declared crypto trading and mining illegal. The country’s central bank declared that encouraging others to use cryptocurrency as an illegal act.
The NTA issued a similar warning about cryptocurrency websites in April, asking the public to notify the regulator if they have information “related to the name of such website, app, or online network.”
In the April notice, it also threatened legal action if “anyone is found to have done or been doing” crypto-related activities, but did not call for a block on access to crypto services at the time.
It also threatened legal action if “anyone is found to have done or been doing” crypto-related activities in the April notice, but did not call for a block on access to crypto services at the time.
