• Nepal’s telco regulators have ordered internet service providers to ban all cryptocurrency-related services.
• Nepal declared crypto illegal in 2021 and have threatened to take legal action against anyone who doesn’t follow the orders.
• The Nepal telecommunications authority have also asked the public to inform them of anyone participating in illegal activities connected to the cryptocurrency industry.

Nepal’s telecom regulator has recently released a notification ordering all internet service providers to ban all cryptocurrency-related services. The Nepal Telecommunications Authority (NTA) has made it clear that these services are prohibited and those found engaging in such activities will face legal repercussions.

The ban on cryptocurrency-related services has been imposed after the Nepal government declared crypto illegal in 2021. Recently, the NTA has observed a considerable increase in the trading of virtual digital currencies in the past few months, leading to the decision to put an immediate stop to such activities.

The NTA has also urged the public to inform them of anyone who has been participating in any illegal activities that are in any way connected to the cryptocurrency industry. This includes websites, apps, or online networks related to crypto trading and other crypto-related services. The NTA has given a warning that anyone found to have done or been doing anything related to the crypto industry will face legal consequences.

The NTA has also made it clear that no access should be granted to crypto services and any entity found to be violating this order will be subject to legal action. This move to ban crypto-related services is in line with the Nepal government’s stance on crypto, which has been negative since 2021.

The telecom regulatory authority has made it clear that no access should be granted to crypto services and any entity found to be violating this order will be subject to legal action. This move is likely to have a significant impact on the cryptocurrency industry in Nepal, as it is likely to discourage people from engaging in crypto-related activities.

Cryptocurrency has been gaining a lot of attention in recent times and many countries have been adopting regulations to govern the industry. Nepal’s decision to ban crypto-related services is a step towards protecting the people from potential risks associated with the cryptocurrency industry. It is a reminder to people that they should be cautious when engaging in any activities related to crypto, as it can be a risky investment.