Kathmandu, 5 April: The Nepal Rastra Bank has published a report with the conclusion that crypto trading, which is prohibited by the existing legal system of Nepal, cannot be used because it is financially risky.
When investing in cryptocurrency, there are risks such as capital flight due to investment abroad, adverse effects on remittance flow, challenges in foreign regulatory reserve management, etc. Its prohibition is necessary as there are risks including tax evasion.
According to the central bank of the country, there are various risks not only to the country but also to the people involved in such transactions. There are currently around 23 thousand crypto-currencies in circulation in the world and only 42 per cent of the total cryptocurrency market is Bitcoin.
People’s News Monitoring Service
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