Govt to close apps and websites to trade crypto, hyper fund among others in Nepal

KATHMANDU: Nepal Telecommunications Authority has started preparations to close all the mobile apps and websites to trade cryptocurrency and hyper fund among others.

The government decided to close the mobile apps and websites to control money from going abroad.

As per the decision of the Ministry of Communications and Information Technology, the NTA has directed internet service providers to close all the apps being operated illegally in Nepal to trade cryptocurrency.

Surya Prasad Lamichhane, deputy director at the NTA, said that the NTA has directed internet service providers to close all the apps to trade cryptocurrency among others.

“The government has directed to close the apps after carrying out an investigation,” he said.

Saying that the trade of cryptocurrency and bitcoin was increasing in the country, Finance Minister Janardan Sharma had earlier said that the government was preparing to close all the apps and websites.

Earlier, the Ministry of Communications and Information Technology had written a letter to the NTA stating that the trade of cryptocurrency, bitcoin and online gambling has increased economic crime.