Bitcoin illegal in Nepal - page 11. | Bitcointalksearch.org

Yakamoto

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Quote from: rajuahmed330 on October 08, 2017, 09:09:05 PM

National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators

Source :- https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

Well, it's Nepal. I don't know what that is even going to do to the market, most people probably aren't going to care since a very large majority of Bitcoin's users are located out of Nepal, and I don't know if there is actually going to be anyone who is going to think of this as a major impact on the community. I would like to see why the men got arrested and if there is anything there related to some criminal activity (which then had an impact on the legislation within the country due to their misuse of it). I'm not saying they did anything bad, but you never know.

bL4nkcode

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Limited in number. Limitless in potential.

Corruption is always the root of banning bitcoin in such countries/third world countries. If the government observe that people used such technology's available in their country that sending money within the country or even outside of the country without fees or tax directly to them, then they will make a move to stop that, then banning bitcoin or some cryptocurrencies will be the caused.

PX-Z

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Banning Bitcoin in such country will not make a huge effect but this is a bad news tho, bitcoin people in that country will do everything they can so they can bitcoin again, how about using VPN or so, but how can this government banned bitcoin on their country? banning bitcoin related websites from the country's ISP? I guess countries have to regulate bitcoin for good purpose from exchanges not to banned them. lol

iamTom123

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Quote from: rajuahmed330 on October 08, 2017, 09:09:05 PM

National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators Source :- https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

Nepal is just a small country and its rejection of Bitcoin and cryptocurrency for now is not a big deal, really! I am sure there will be other countries who will instead exploit the many windows of opportunities that can come in legalizing Bitcoin as what is happening right now in Japan. Those governments who feel threatened by the explosion of Bitcoin which is something they can not control (but can regulate) will be left behind and by the time they realized their mistake they are already left by the Bitcoin train and will be eating the dust. Sad that there are so many who are still close-minded on the financial revolution offered by cryptocurrency.

winderx

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I believe this is a great news to the crypto world. Having a country banning Bitcoin is no small matter, no matter what the reason, definitely people with Bitcoin in their country will be selling it off soon..

MattHoo

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Although it is not a good news for everyone, i think Bitcoin is strong enough to get to a higher step. And now it goes up to more than $4500 USD, and it will get stronger.

amishmanish

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Quote from: rajuahmed330 on October 08, 2017, 09:23:36 PM

Quote from: Mysterious01 on October 08, 2017, 09:11:32 PM

Quote from: rajuahmed330 on October 08, 2017, 09:09:05 PM

National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators

Source :- https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

This is not a good news but don't worry OP because bitcoin is getting broader and stronger.
From time to time they will surely regret it and will accept bitcoin in the future.

Thank you.Thanks for your nice reply.
I am also thinking that some days ago bitcoin banned in china,then price some low. and now all ok. so, it couldn't effect on price of bitcoin. Its Behavior such as good. Cool

The currency of Nepal is pegged against INR and most of the revenue comes through remittances by Nepalese nationals working abroad. The central bank is not very confident and competent as its yet to find its feet. The potential for bitcoin to move wealth (particularly the remittances), to a completely unfamiliar mode must have given the central bank cold-feet, that is why they had declared it illegal to trade in bitcoin quite a while back.
These arrests were just a result of the traders using bitcoin despite the ban. You guys should hold them in secret wallets, maybe trade a fraction using VPN if you want to continue earning. Seeing as it is going to be difficult to exchange it for real money legally, I think its going to lose much of its revolutionary value for the common man, which is unfortunate.

CriptoIngresos

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Heard from this recently, it's a shame really. According to the article they are waiting for an official announcement on the regulation of digital currency and in the meantime Bitcoin is just labeled as 'ilegal'. What I'm really curious now is what are these regulations going to be (if any).

Seems like at the moment, these news didn't had any type of impact on the market though.

szpalata

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Wel, it's upto the Nepalese government but i think they are going to loose out eventually on the benefits of bitcoin and not the rest of us. We cannot like the sasme thing at a time and so if they've chosen this path i think we should leave them to their fate.

Flor1982

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Quote from: 8270thNinja on October 08, 2017, 09:32:38 PM

Quote from: rajuahmed330 on October 08, 2017, 09:09:05 PM

National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators

Source :- https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

What? they just arrested the seven exchange officers, That's unfair, really unfair. They should have atleast order them to close their exchanges and give a damn law about it before arresting these people, what an ignorant government.

If the bitcoin is illegal or ban in a certain country of course people will be arrested and face the consequence of defying the law especially if they open an illegal exchanges because it cant apply a permit to operate while bitcoin was declared illegal by their Central bank itself. We all know that it will be their government lost if they lift the ban even a little bit too late as bitcoin is keep increasing everyday but we cannot fight the government decisions except if you want to become a rebel.

drm

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Not good news for anyone actually.

Quote from: Altas on October 08, 2017, 09:12:07 PM

That's insane, but they'll get the opportunity to use or exchange bitcoin as they're found to be serving as a part of India. Those people will use the services from India for their needs. I too have a friend in Nepal, who is already a hesitant user. Now this could have made him stop using it.

Then I'd say it would be having the effect they want.

mitchr4

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Quote from: rajuahmed330 on October 08, 2017, 09:09:05 PM

National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators

Source :- https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

Oh there i just known about communist government really not very friendly towards cryptocurrencies like Nepal hate bitcoin and China also hate that banned ICOs and his local exchange.

junoreactor

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Not a good news for Nepalese.

8270thNinja

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busy in real life, long post gap is understandable

Quote from: rajuahmed330 on October 08, 2017, 09:09:05 PM

National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators

Source :- https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

What? they just arrested the seven exchange officers, That's unfair, really unfair. They should have atleast order them to close their exchanges and give a damn law about it before arresting these people, what an ignorant government.

rajuahmed330

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Quote from: Mysterious01 on October 08, 2017, 09:11:32 PM

Quote from: rajuahmed330 on October 08, 2017, 09:09:05 PM

National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators

Source :- https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

This is not a good news but don't worry OP because bitcoin is getting broader and stronger.
From time to time they will surely regret it and will accept bitcoin in the future.

Thank you.Thanks for your nice reply.
I am also thinking that some days ago bitcoin banned in china,then price some low. and now all ok. so, it couldn't effect on price of bitcoin. Its Behavior such as good. Cool

Altas

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That's insane, but they'll get the opportunity to use or exchange bitcoin as they're found to be serving as a part of India. Those people will use the services from India for their needs. I too have a friend in Nepal, who is already a hesitant user. Now this could have made him stop using it.

Mysterious01

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Quote from: rajuahmed330 on October 08, 2017, 09:09:05 PM

National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators

Source :- https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

This is not a good news but don't worry OP because bitcoin is getting broader and stronger.
From time to time they will surely regret it and will accept bitcoin in the future.

rajuahmed330

full member

Activity: 450

Merit: 100

National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators

Source :- https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

Topic: Bitcoin illegal in Nepal - page 11. (Read 1849 times)