Nepal Rastra Bank (NRB) has warned about the dangers of Cryptocurrency.
Issuing a notice on September 9, Thursday, NRB has announced that the transaction of cryptocurrency is illegal and anyone involved in any of such activity will be taken legal action as per existing laws.
ALSO READ: NTA Studying the Possibility of Refurbishing and Assembling Phone Sets in Nepal
“General people are being persuaded to carry out transactions and do mining of cryptocurrency and many of them are being cheated,” mentions the press release issued by NRB.
A cryptocurrency (or “crypto”) is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions. Much of the interest in these unregulated currencies is to trade for profit, with speculators at times driving prices skyward.
NRB and the 2019 Foreign Exchange Regulation Act had declared Bitcoin and other cryptocurrencies as illegal forms of financial tender.
Despite warnings, many Nepalis here have been using, transaction and mining cryptocurency.
READ NEXT: Namaste Pay App Launched: Supports Offline Payment, Lacks Proper Testing
-
Bosch Power Tools’ Daraz 11.11 Offer: Rs. 22,900 Pressure Washer for Rs. 11!HIGHLIGHTS Get a chance to grab a Bosch Pressure Washer worth Rs. 22,900 for just…
-
TVS iQube 3.0 Variant Now in Nepal with 100 km Range and 5-Year WarrantyHIGHLIGHTS TVS iQube price in Nepal starts at Rs. 3 Lakhs to Rs. 3.60 Lakhs.…
-
Realme 15T Launched in Nepal with 7000mAh BatteryHIGHLIGHTS The Realme 15T price in Nepal is start at Rs. 39,999 (8/256GB). It has…
