Nepal’s telco regulators have ordered internet service providers to ban all cryptocurrency-related services in their recent notification released on January 8.
Nepal’s stance on crypto has previously been negative, as the nation banned crypto-related activities in 2021. Nepal’s telco has also threatened to take legal action against any entity that does not follow the orders.
In the email notification released, the Nepal Telecommunication Authority (NTA) ordered that users not have access to “websites, apps, or online networks” connected to the crypto industry or trading.
This news came after the Nepal regulatory authority found out that despite declaring crypto illegal, there has been a considerable increase in the trading of virtual digital currencies in the past few months.
Additionally, early last year, the Nepal telecommunications authority urged the public to inform them of anybody who has been participating in any illegal activities that are in any way connected to the cryptocurrency industry.
After the NTA issued the notice asking the public to notify regulators about information “related to the name of such a website, app, or online network,” they issued another notice.
This notice mentioned that there should be legal consequences if “anyone is found to have done or been doing” anything related to the crypto industry, as they have not called to block access to crypto services at that time.
Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.
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