Nepal Shuts Down Crypto Websites, Apps — Warns About Engaging in Crypto Activ...

The Nepal Telecommunications Authority (NTA) stated that cryptocurrency activities or related activities shall be considered unlawful in Nepal. Nepal’s regulator of the technology sector issued this warning to the public that engaging in illegal activities, specifically related to cryptocurrency, Bitcoin, and gambling will have legal consequences. Along with NTA, Nepal’s Central Bank, Nepal Rastra also […]

Mining and trading of cryptocurrencies are illegal in Nepal, the country’s central bank has reminded citizens of the Himalayan nation. The regulator also warned that participating in such activities would entail penalties as per the current legislation. Despite its position, however, the Nepalese have continued to invest in bitcoin, media reports reveal. Engaging in Illegal Crypto Activities is Punishable by Law, Nepal Rastra Bank Says in Notice Cryptocurrency trading and mining are punishable as they are illegal in the country, the Nepal Rastra Bank (NRB) remarked in....

A task force in Nepal has proposed legal changes allowing the country’s central bank to issue its own digital currency. The move comes after a study indicated that such an initiative is feasible and recommended certain provisions that would authorize the regulator to proceed with its realization. Nepal Central Bank Prepares Legal Ground for National Digital Currency The Nepal Rastra Bank (NRB) is ready with revisions to the law determining its powers and responsibilities that would allow the monetary authority to issue a digital version of the country’s fiat....

Fake bitcoin wallet apps have emerged in the Apple iTunes App Store, potentially putting bitcoin accounts at risk and reinforcing the need for people to make sure they are downloading apps from official wallet websites, according to Kyt Dotson, a senior editor at Silicon Angle. A representative of Breadwallet, a bitcoin app available in App Store and Google Play, has posted a notice on Reddit listing a number of fake bitcoin wallet apps in the iTunes App store, calling into question Apple’s vetting process. The fake apps have names similar to the official mobile wallet apps, but they can....

The central bank of the Philippines, the primary regulator of the country’s crypto sector, has warned investors about engaging with unregistered and foreign crypto service providers. They “may present additional challenges on enforcing legal recourse and consumer protection and redress mechanisms for local customers, among others,” the regulator said. The Philippine Central Bank’s Crypto Warnings The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), issued a public warning Tuesday regarding unregistered and foreign crypto....