Nepalese living in Australia could be jailed for investing on Crypto

Nepal government seems very strict toward Cryptocurrencies, declared investing in Cryptos illegal. Nepal Rastra Bank not only made it illegal in Nepal also extended strict rule globally for Nepalese. As per this fresh announcement Nepalese living in Australia couldn’t invest in Cryptos as a Nepali citizens. If found, they are in the Crypto trade and on their Nepal visit, they could get caught and would face serious charges.

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Nepalese living in Australia could be jailed for investing on Crypto - NepaliPage
Nepal Rastra Bank Notice circulated over Social Media. Image: Facebook
Dila Kharel is a renowned financial advisor in the Nepalese Community in Australia. Image: Supplied

In a recent notice, Nepal Rastra Bank articulates involvement in Crypto is illegal in Nepal for foreigners too. Furthermore, the notice warns Nepalese living overseas if found involved in Crypto trade government would penalize based on existing acts and regulations. It hints government would take action against those Nepalese living in Australia or other countries involved in Crypto if they check their wallets and trade during their Nepal visit.

Read Als: https://trade.swyftx.com.au/register/?ref=madanadhikary

Nepal Police already started arresting people involved in the Crypto trade in Nepal. Thursday Kathmandu Metropolitan Crime Division arrested Rajan Bhattarai, Bishal Shrestha, and Dipeshraj Sharestha allegedly involved in the Crypto trade.

Due to the financial crisis in Nepal government tightened foreign expenses by its citizens. Besides Cryptos Nepal banned Hyper Fund and other network marketing activities such as Jocial, Crowd 1, Solemax Global.

Sydney-based Nepalese entrepreneur and Non-Resident Nepali Association leader Dila Kharel, professionally involved in the financial consultancy sector takes NRB’s this action as unfortunate. ‘Government should develop a regulatory structure than banning new wave in financial and investment sector’, he said NepaliPage. Further, he stressed, ‘this new notice and provision could be misused and placed fellow Nepalese Australian visa holders in trouble while visiting Nepal.’

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