Finance Minister of Nepal accepts cryptocurrency is the future of e-economy

camito

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Quote from: tsaroz on March 03, 2020, 08:21:39 AM

Nepal is one of the country that have a blanket ban on trading of cryptocurrency. But its Finance minister on an event claimed cryptocurrency to be one of the major aspect of modern economy. He claimed Cryptocurrency along with crowdsourcing and e-commerce to be the three large areas that would shape the future of economy.

He had previously claimed crypto to have failed for good.

I don't know much about Nepal and I think it would be better if you attached some link that can help us be educated. Nevertheless, I've made my own research and it says that the Nepal Rastra Bank has accepted Bitcoin as ILLEGAL form of financial tender. The article was updated year 2019 and I've no idea of its state in this year 2020. Maybe, just like in India or China, they are used in trading or exchange as what you have said that is from their finance minister. If this is indeed the case, then it is great. If countries such as Nepal that has a strong stand on banning crypto and then accepting it a little while can be a good signal for other countries to follow.

sana54210

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That’s really good. Nepal is one of the countries that have strict rules on cryptocurrency and have banned it since. I can remember that in 2017 there was a time they arrested seven people for trading Bitcoin in their country. They even went ahead to say that if cryptocurrency should be regulated they will be able to monitor everyone that’s making use of cryptocurrency.

I don’t know if they still have the same Finance Minister, back then in 2017 it was one Krishna Mahara. But for them to say this now, I guess they are now considering cryptocurrency and might make it legal. Let’s see as time goes on. This issue of cryptocurrency is worst in lawless countries where law enforcement agencies can take whatever they want on people who are caught with cryptocurrency.

pakhitheboss

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OP is not interested in publishing the source here.

I did a google seach and found only article related to ban and negative news on cryptocurrency from Nepal. I doubt it is a genuine news. No concrete evidence or source to confirm it.

Then why a Legendary will post a fake news?

Might be an inside news or a personal interaction.

Tonteus

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Only the e-economy? I am sure that cryptocurrencies will change the entire financial system.

7788bitcoin

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Since everyone is looking for the source of this news article, it looks like the Nepal media is not that active to publish something like a bitcoin news online, @OP as everyone is asking for the source it would be a good idea to have a clarity on where this news appeared. The only news i could see is that people who trade bitcoin were arresting which means it is illegal to trade bitcoin and if the government is planning to make changes about it is the big question here.

Twentyonepaylots

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Quote from: Lucius on March 03, 2020, 09:35:53 AM

It would be nice if the OP posted a link that would give us a little more information on what Nepal is really planning to do about cryptocurrency. Also, such news (if true) does not necessarily mean that Nepal is opening its doors to BTC, but that it may be working on its own cryptocurrency.

He could've included the source on the post, I thought my internet is just slow and it does not load the full content lol.

Quote from: Lucius on March 03, 2020, 09:35:53 AM

It is not the first time that the change of politicians in power changes the attitude towards something, but also that the new change of government changes things backwards. Nepal is a fairly isolated country between China and India, and I think a lot depends on these two countries, which by the way do not have a very positive attitude towards cryptocurrency. I would say that they are not really in a positive environment and should be very careful not to annoy neighbors.

This looks encouraging to the neighboring countries although China has a huge problem on its front right now, China could've done more if such corona virus did not come out. As part of modernization, the financial system should be revised or at least add an another entity to propose a more efficient way of financing, moreover the transitioning of us now to a modern world has become the priority of the first world countries like US, China and Russia. I guess the society we are dreaming is set to sail sooner or later.

XCANA

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For some government to come out open to declare what cryptocurrency can bring into their government looks encouraging as with this we might be driving into a global adoption in this regard. Despite the shortcomings from OP not be able to post the source, am still with a high hope that Germany will bring something good to cryptocurrency in general. Believe me or not, they will come to the limelight of how this technology can assist each government financially and the world economy too. Knowing fully well that, the future of finance will rest upon digital currency will give it a global adoption from various government.

Stedsm

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I tried to find the source from my end but couldn't, as there's nothing like an official statement as of yet else it'd have become a news already. Even if we believe it without a source, then I think that things are changing for cryptocurrencies as Governments have now started to change their views on it and start taking advantage of the already established asset class before getting left behind. Remember the old days when these authorities were only neglecting cryptocurrencies and even Blockchain - the major tech behind the success story of crypto sphere.

nicecrypto

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I don't think a Legendary will make up a story just to seek attention, maybe he heard from a reliable source and the news have not been published yet, I don't think he will gain anything by spreading fake news, @OP you should consider providing source of your information to make it authentic.
Although this is good news for crypto in this is authentic after all.

Harlot

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Did this guy just posted a fake headline to create attention? I spend about 5 minutes searching in Google to see news related about the acceptance of crypto in Nepal but I didn't see anything near about it. From "Nepal Cryptocurrency" to "Finance Minister accepts crypto" there are no news related to it and the top result showing in Google is your thread about this one. You wouldn't even see any kind of news about their crypto status for the past month, so tell me have you read this in some kind of local tweet in your country that's why we still haven't seen any global news for it?

YuginKadoya

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I never have seen any news article regarding your post OP, It could really be viable if you had provided evidence for this, but Nepal really had a rough time over cryptocurrency and in the recent news that I have seen that several individuals have been arrested because of illegal trading for cryptocurrency, The government seems to be very strict regarding illegal transactions we can see that an individual can mostly be free for taxes if he is earning Bitcoin, in my opinion, this is one of the major things the government is afraid off.

20kevin20

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I've looked this up and cannot find a single article about it.. nor can I find any tweet. A source would be awesome, because until then the information is quite doubtful. The population of Nepal isn't very small.. it's actually half higher than mine (Romania), so such news would be pretty interesting to hear. Sounds like good news, but I don't expect this to have any impact on other countries..

Lucius

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It would be nice if the OP posted a link that would give us a little more information on what Nepal is really planning to do about cryptocurrency. Also, such news (if true) does not necessarily mean that Nepal is opening its doors to BTC, but that it may be working on its own cryptocurrency.

It is not the first time that the change of politicians in power changes the attitude towards something, but also that the new change of government changes things backwards. Nepal is a fairly isolated country between China and India, and I think a lot depends on these two countries, which by the way do not have a very positive attitude towards cryptocurrency. I would say that they are not really in a positive environment and should be very careful not to annoy neighbors.

mahilchii

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Evident for this will be really helpful. If yes, this could be a big news for crypto forum as a new country is all set to show green signal to its people. Previously they have banned Bitcoin on their country and arrested few of them as BTC is an illegal asset, at the end of the day it's the government who has to take the action on this and I am not sure how much true it is.

tsaroz

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Nepal is one of the country that have a blanket ban on trading of cryptocurrency. But its Finance minister on an event claimed cryptocurrency to be one of the major aspect of modern economy. He claimed Cryptocurrency along with crowdsourcing and e-commerce to be the three large areas that would shape the future of economy.

He had previously claimed crypto to have failed for good.

Topic: Finance Minister of Nepal accepts cryptocurrency is the future of e-economy (Read 227 times)