A notice from the national telecoms regulator indicates the Bitcoin prohibition applied by the Nepalese administration earlier this year.

Nepal, the South Asian nation famous for being the birthplace of the world’s tallest mountain, Everest, is obstructing crypto websites and apps to strengthen its prohibition on Bitcoin.

The Nepal Telecommunications Authority (NTA) revealed a notice this week warning the population that getting into digital assets-related activities could be considered illegal.

According to the report, the regulator specifically spoke about the prohibition on the use of Bitcoin and other digital currencies and online gambling. The NTA highlighted that websites, applications, and online networks linked to crypto activities got banned, whether operated or managed within the nation.

The Nepalese agency, which determined in the notice that the country has registered an increase in operations with digital currencies, described the activities with said assets as “illegal and criminal.”

The entity also warned that those involved with digital assets and its activities could deal with legal punishments, which according to some reports, could include severe penalties such as imprisonment.

Other Countries with Absolute Restrictions on Bitcoin

According to a study made back in 2021, various nations decided to stop or obstruct all economic activity around the use of digital assets. China was perhaps the most highlighted case in 2021. In September of the previous year, the Central Bank of that nation labeled as illicit any activity, behavior, or operation linked to bitcoin and digital assets.

Since 2018, when the first report got revealed, only one country has included bitcoin on its blocklist, China, which got included on the list of nations that banned the use of digital assets. However, the group of regions that executed implicit prohibition rules experienced an increase from 15 to 45 at the time.

Many proposals also got applied to set an adoption on bitcoin and other digital assets, as in El Salvador. In that Central American nation, in September 2021, the law got approved that turned bitcoin into legal tender.

Perhaps the most evident demonstration of this situation is the advances in regulatory procedures of Latin American nations, such as Paraguay, which developed new rules to favor the adoption of digital currencies. According to some enthusiasts and experts on the subject, this situation is also the case in Costa Rica, a nation that has an optimal regulatory ecosystem for adopting bitcoin.

By Jenson Nuñez

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