Instructions to close crypto trading applications and websites in Nepal

Jan Mon 2023 03:11:13

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Instructions to close crypto trading applications and websites in Nepal

Kathmandu. The Nepal Telecommunication Authority has instructed internet service providers to close websites and applications related to crypto transactions, hyper networking and online gambling (betting).

Nepal's current legal system considers crypto trading, networking and online gambling illegal. However, such websites and applications are running unopposed. Although the government has already instructed to shut down websites, applications and online networks related to illegal activities and economic crimes such as crypto currency trading, hyper networking, online gambling, etc. through online technology, the Telecommunication Authority has said that it had to be instructed again after the internet service providers refused.

Santosh Paudel, spokesperson of the authority, said that the service providers have been instructed for the second time to close such websites and applications. "According to the circular issued by the Ministry of Finance, we had instructed internet service providers to close such sites about a year ago. But now the instructions have been given again after the instructions have not been effectively followed," said Paudel. The authority also said that action will be taken against the service providers who do not follow this instruction.

The Telecommunication Authority has issued a notification and asked to stop the operation of websites and applications related to topics such as cryptocurrency, bitcoin, hyper networking, online gambling through online technology.