NRB warns of action against those involved in virtual currency, networking business

The Nepal Rastra Bank (NRB) has warned of action against those involved in the business of virtual currency and networking. Issuing a press statement on Sunday, the NRB said anyone found involved in the business of cryptocurrency and pyramid-based networking as a hyper fund, jocyal, crowd1, soul max and global would be punished.

"Virtual currency is not given legal recognition in Nepal. So, people can be defrauded by such virtual currency and networking. It also leads to illegal capital outflow," the NRB said, adding that even the foreign citizen if founded in this illegal act, would be punished as per law.