Nepal Banning Cryptocurrency and Hyper-funds Related Website
Infomail – The government of Nepal plans to ban websites and apps related to hyper-networking and crypto-trading. As such transactions are illegal in Nepal, there are plans to shut down related websites and apps.
It is understood that the Ministry of Finance has requested the Ministry of Communications and Information Technology to ban such platforms as per the recommendation of Nepal Rastra Bank.
Accordingly, at the request of the Ministry, preparations have been made to force the Nepal Telecommunication Authority to shut down such websites.
Earlier, the Ministry of Finance was preparing to form a high-level task force on hyper-networking and crypto-trading.
The task force will include NRB, Telecommunications Authority, Revenue Investigation Department, all security agencies and agencies under the Ministry of Finance.
This is one of the objectives of including the Telecommunication Authority in the task force.
For that, NRB will identify websites related to hyper-network and cryptocurrency transactions. The Ministry of Communications will inform the NEA about the identified websites at the request of the Ministry of Finance.
NEA will then be able to instruct its subordinate service providers to ban such websites.
A source said that verbal opinion has been sought from the Telecommunication Authority for this. Earlier, at the request of NRB, NEA had banned the online betting website ‘One Xbet’.
Thus, it can be assumed that there is a plan to ban websites and apps being used for crypto transactions in Nepal.
However, NRB co-spokesperson Narayan Prasad Pakharel said that he was not aware of this.
‘Discover your Trusted Information’ is running beneath Nepal Infotic Pvt. Ltd, It could be a dedicated web portal to delivering trustworthy information on the internet and Operated twenty four hours by a passionate team. The head office of this company is in Putalisadak Kathmandu, Nepal, and its contact office is also in Texas USA, Europe, Japan and Australia.