The Nepal Telecommunications Authority (NTA) has recently called on Internet Service Providers (ISPs) to prohibit access to any website related to crypto trading and has threatened to take legal action against ISPs that fail to comply.
This follows a notice in September 2021 from the Nepal Rastra Bank, the nation’s central bank, which declared crypto trading, mining, and encouraging others to use crypto as punishable offenses.
In April of the same year, the NTA had issued a warning to the public to inform the regulator of any crypto-related activities, but did not call for a block on access to crypto services at that time.
Despite the ban on crypto activities, a September 2021 report by blockchain data firm Chainalysis showed that Nepal has taken a leading role in global crypto adoption, ranking 16th worldwide and ahead of the UK.
A report by the Law Library of Congress in November 2021 revealed Nepal as one of nine countries that have totally banned cryptocurrencies.
