Topic: Bitcoin illegal in Nepal - page 2. (Read 1836 times)
Nepal is one among the country similar to Bangladesh imposing a ban upon the usage of bitcoin. Still citizens of both country continue using bitcoin through different other ways, in most cases they use the easy entry into India as a gateway to use bitcoin.
The economy there is already very bad and I do not think that people can invest much in bitcoins ? Is there any way to get stats regarding bitcoin users from different countries.
Well we do not know why it happens on Nepal but i am pretty sure that they had their reason why they put bitcoin to as an illegal maybe the system has been use in illegal activities so it could be something to put it that way. Anyway i know that they will come up with an idea on bitcoin and literally regulating the system is one of the best thing to do like USA and other countries around the world.
a good step if nepal also go legalize bitcoin more and more countries that legalize bitcoin will be brighter future bitcoin of course I hope this kind of thing can make bitcoin price rise again
I heard about this news and I do not think that it will affect the price globally. However, people there will now have to use sites like local bitcoins.
Not yet. Most of the country still thinking how to regularize the bitcoin and how it will impact their please wait amd find alter option to convert nepalese currency to dolars or other and start mining.
In my country when using Bitcoin to transact and transfer money through the bank is considered illegal. This makes trading Bitcoin difficult and time consuming, affecting some investors in the country.
But all is still optimistic about a bright Bitcoin
But all is still optimistic about a bright Bitcoin
I think this is not impotant news. May be I'm not right.
This is can't affect to Bitcoin price IMHO
Right?
This is can't affect to Bitcoin price IMHO
Right?
Unfortunately, this is indeed the case. Moreover, seven people were arrested, who were involved in operations with the crypto currency. In this regard, the large Bitsewa exchange had to cease its activities, which its management reported on the official website and Facebook, and they also promised to return to users all the funds on its accounts.
Indeed, every country has its own policy. It is the state's right whether to give legal or illegal status to bitcoin. The policy should be taken with clear reasons. But if I look at the future of bitcoin, now the bitcoin development team is making improvements to bitcoin in order to restore public confidence and can compete with other crypto currency coins. I am sure if later bitcoin managed to make improvements by presenting new innovative technology then there is no reason for countries that provide this illegal status prohibits bitcoin, including Nepal.
Currently, Bangladesh, Bolivia, Ecuador, Kyrgyzstan and Nepal are five countries that have not legalized Bitcoin because lawmakers are still vague about censorship regulations. Recently, nearly 10 peopl involved in Bitcoin-related transactions were arrested by Nepalese police and are being accused by the government of violating the rules of Nepal's central bank: Bitcoin and other types of cryptocurrency are illegal.
While some governments are working to improve the regulatory framework for handling and regulating Bitcoin, the following five countries are determined not to legalize the codified currency: Bangladesh, Bolivia , Ecuador, Kyrgyzstan and Nepal. Nepal is one of the countries where bitcoin is illegal
Based on my research they say that nepalese government are not friendly to cryptocurrency and they say National Bank of Nepal Deems Bitcoin Exchange Operations “Illegal,” While the CIB Police Force Arrest Seven Exchange Operators
The communist government of Nepal is not very friendly towards cryptocurrencies just yet, because Nepalese officials are in the midst of discussing regulatory guidelines. On October 6, 2017, a task-force from the CIB arrested seven suspects allegedly involved with running “bitcoin exchange” operations. The CIB explains that the operators violated the order of the National Bank of Nepal that stated until regulations are conceived bitcoin, and other cryptocurrency exchange businesses are “illegal.”
The communist government of Nepal is not very friendly towards cryptocurrencies just yet, because Nepalese officials are in the midst of discussing regulatory guidelines. On October 6, 2017, a task-force from the CIB arrested seven suspects allegedly involved with running “bitcoin exchange” operations. The CIB explains that the operators violated the order of the National Bank of Nepal that stated until regulations are conceived bitcoin, and other cryptocurrency exchange businesses are “illegal.”
I feel really bad for the crypto currency lovers living in Nepal. Making bitcoins illegal is just roo much and very illogical. It does not commit crimes. Why not focuse instead on bigger problems of the country than wasting time banning something that is actually very useful for everyone in Nepal. This just doesn't make sense. Clearly, they are just afraid of bitcoins taking over. Really cannot help close minded people from thinking and deciding based only on what they hate or like themselves. Just so unfair
Its really a loss for them to regard bitcoin as illegal because when the right time comes bitcoin will come stronger and reach a new peak in price and i assure that they will regret it.
Its really a loss for them to regard bitcoin as illegal because when the right time comes bitcoin will come stronger and reach a new peak in price and i assure that they will regret it.
Yes, the government of Nepal declared Bitcoin illegal.They think that due to Bitcoin, their economic condition will be damaged.Their notion that inflation could take place.Besides, Nepal is not a developed country, so they are not aware of technology.
I do not think the government of nepal should not act like that, my country bitcoin still illegal but I still can use bitcoin, because our government just give the appeal not to use bitcoin. Nepal not occupies a leading position in the global economy and his example unlikely to be followed by other countries. This is just my subjective opinion
Yes, the Nepal Central Bank views Bitcoin trading as illegal. On October 6, 2017, police detained 7 people involved in allegations of virtual currency transactions. The CIB explained that these people violated the Nepalese central bank rule with the announcement that Bitcoin trading and other virtual currency units were illegal.
That's a sad news. But I'm not so surprise about this because Nepal is a peaceful country. It is said that people living in Nepal are the happiest citizen in the world. So I think the Government of this country does not want any things threaten their country.
Ignoring Nepal, nowadays, they notice more about Korea
this country will be a heaven for crypto. Just look at what Korean Government did and you will understand why:
https://btcmanager.com/south-korea-may-launch-dedicated-cryptocurrency-zone-for-companies/
Ignoring Nepal, nowadays, they notice more about Korea
this country will be a heaven for crypto. Just look at what Korean Government did and you will understand why:https://btcmanager.com/south-korea-may-launch-dedicated-cryptocurrency-zone-for-companies/
Yes, indeed the use of bitcoin especially in NEPAL needs to be regulated so that there are no casualties in the midst of technological developments and millennium generation are turning to online commerce.
Bitcoin's popularity in the international community is the trend!
The actions of marginalizing and illegalizing Bitcoin are all acts of retreating and blocking the country. These actions will lead to further economic decline. Blockchain technology also lags behind other countries!
The actions of marginalizing and illegalizing Bitcoin are all acts of retreating and blocking the country. These actions will lead to further economic decline. Blockchain technology also lags behind other countries!
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