Transactions Involving Bitcoin, Virtual Currencies, Cryptocurrencies & Network Marketing Are Prohibited in Nepal

Nepal Rastra Bank (NRB) has declared that transactions involving Bitcoin, virtual currencies, cryptocurrencies, network marketing, and hyper funds are prohibited in Nepal.

Virtual Currency / Cryptocurrency, Non- Fungible Token (NFT), Digital Asset, Decentralized Finance (DeFi) pyramid- based Network Marketing, and Hyper Fund include risks related to asset laundering and terrorist activities, investment fraud, tax evasion, investment insecurity, capital flight, price volatility and fluctuations, betting, etc. Since Nepal has not received legal recognition of such transaction, legal tender status in Nepal of such transaction will be deemed to be considered illegal.

For the benefit of everyone involved, if any Pyramid-based Network Marketing and Hyper Fund transactions are found to be carried out appropriate legal action will be taken in accordance with the applicable laws.