Bitcoin illegalized in Nepal - 7 arrested

in bitcoin •  7 years ago 

This is really depressing news so crypto currency enthusiasts like myself. The Nepal government wants to tax everything and make money out of any transactions of its citizens. Hence, they have illegalized Bitcoin, in short all cryptocurrency trading, and have arrested 7 people for the "crime".
We are not allowed to have PayPal or international credit cards here so our trading is mostly based on local transfer and exchanges. With this ban, the future of BTC is bleak in Nepal.

The link below has the news related to the ban and arrests.
https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/

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Sad to hear it. Asian countries need to take a clue from the Middle east which are ready to embrace new technologies and that is the reason for one of their growth.

SO SORRY! (you can spend your STEEM on Peerhub, if that helps)

Thank you. I didn't know that. Will definitely check it out.

  ·  7 years ago (edited)

Again seven arrests for trading Bitcoin in Nepal

As National Bank of Nepal stated that Bitcoin Exchange Operations are illegal, as there is not yet adequate law regarding cryptocurrencies in Nepal. DSP Jeevan Kumar Shrestha of the CIB stated that this is first this kind of incident that the Bitcoin operators have been arrested, and they are in police custody for further investigation, until they find the magnitude of bitcoin tradings.
So yeah itss all about economy and bank system because Bitcoin exchange they can't control it not like paper money .

The interesting part to me is all 'money' is electronic these days! The only difference is who "owns" it. 'Them' or us.

Crypto is so big now & growing by the hour, there is no way a few bankers can stop it now, "cat is out of the bag" IMHO and Plastic cards (like a visa) are starting to appear by private companies. I won't be long before the 'visa' part also gets consumed / replaced maybe by phone apps & paypass technology.
I hope your friends are OK

run from there friend

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