Ban on Transaction of Bitcoin in Nepal

13 August, 2017

[Notice Published in Nepal Rastra Bank's website, dated 2074/04/29 (August 13, 2017)]

The central bank of Nepal, Nepal Rastra Bank (“NRB”) published a notice pursuant to Nepal Rastra Bank Act 2001 (“NRB Act”) and Foreign Exchange (Regulation) Act 1962 (“FERA”) prohibiting the usage of Bitcoin in Nepal. NRB has not recognized Bitcoins as a valid currency in Nepal. NRB by the notice has declared that transactions of Bitcoin is illegal in Nepal.