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Nepal
NPschema crypto-v2.0.0trajectory: not yet assessedprohibitedoverlaps: FIM, WPM, Advennt
Last updated · 8 categories · 13 sourced
findings · 14 sources in the cumulative register
8Categoriesbaseline.
13Findings.claims[]
6Tier-1 sourcesrun_metadata.t1_source_count
Confidence mix(sums to 8 rendered categories; click to filter)
No categories moved this cycle.
Jurisdiction lead brief
Lead Signal
Nepal Rastra Bank's Department of Foreign Exchange Management has issued a public notice warning against virtual-currency-linked pyramid and network-marketing schemes operating in Nepal, naming Hyper Fund, Jocial, Crowd 1 and Solemax Global specifically. This is a fresh evidentiary detail this cycle relative to Nepal's standing, unchanged blanket prohibition on cryptocurrency trading, mining, holding, brokering and acceptance as payment: the underlying prohibition itself has not changed, but the notice adds a concrete, named layer of consumer-protection enforcement activity targeting specific schemes rather than the general prohibition alone.
Other Developments
The named schemes, Hyper Fund, Jocial, Crowd 1 and Solemax Global, are cited by Nepal Rastra Bank's Department of Foreign Exchange Management as examples of virtual-currency-linked pyramid and network-marketing activity the notice is intended to warn against. This is the first cycle in which specific scheme names have been documented in the evidence base, rather than only the general category of prohibited activity.
Cross-Monitor Connections
This consumer-protection notice sits adjacent to financial-integrity's coverage of Nepal's beneficial-ownership and enabler-jurisdiction gaps: virtual-currency-linked pyramid schemes are a recognised enabler-sector vector, though the notice itself is framed here strictly as a consumer-protection warning rather than an anti-money-laundering finding, which remains financial-integrity's subscribed-slot territory for this jurisdiction.
Outlook
Watch for whether Nepal Rastra Bank issues any further named warnings against specific schemes, and whether any enforcement action beyond a public notice, such as an asset freeze or prosecution, follows against the four schemes named this cycle.
8 of 8 categories
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Density
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Nepal Rastra Bank (NRB) has taken an affirmative criminal-prohibition stance rather than a mere licensing gap: cryptocurrency trading, mining and holding are declared illegal under the Foreign Exchange (Regulation) Act, 1962, with the Nepal Telecommunications Authority (NTA) enforcing the ban at ISP level by ordering blocking of exchange-related websites, apps and online networks. No registration, notification or licensing pathway exists for any crypto business model; the only available category is 'prohibited'.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
no periodic updates on record for this sub-brief
Sources and findings (5)
T1 · Nepal Rastra BankNepal Rastra Bank — NRB has declared that cryptocurrency trading (including Bitcoin) cannot legally be conducted in Nepal, characterizing such transactions as unlawful.retrieved M5bindingin forceour coverage gap, expected to resolve on a re-run
T1 · Nepal Rastra BankNepal Rastra Bank — NRB's Foreign Exchange Management Department notice confirms cryptocurrency-related transactions are illegal under prevailing law in Nepal.retrieved M5bindingin force
T4 · CoinDeskCoinDesk — Nepal's central bank banned cryptocurrency activities including trading and mining in September 2021.retrieved M4bindingin force
T4 · CoinDeskCoinDesk — Nepal's Telecommunications Authority instructed all internet service providers to prevent operating and managing crypto-related websites, apps or online networks, threatening legal action against ISPs and email providers for non-compliance.retrieved M4bindingin force
T1 · Nepal Telecommunications AuthorityNepal Telecommunications Authority — NTA's public notice archive lists cryptocurrency, Bitcoin, 'hyper networking' and online gambling jointly as illegal online activities for which it solicits public information on operators.retrieved M3bindingin force
Nepal maintains no statutory token taxonomy. NRB's prohibition notices treat all 'virtual currency/cryptocurrency' uniformly as an illegal foreign-exchange instrument, without distinguishing security tokens, utility tokens, stablecoins, e-money tokens, asset-referenced tokens or NFTs. Categorization therefore defaults to 'unclassified' for every token type as a matter of law.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
no periodic updates on record for this sub-brief
Sources and findings (1)
T1 · Nepal Rastra BankNepal Rastra Bank — NRB's cryptocurrency notices do not differentiate by token design or function; all virtual currencies and tokens are treated as a single prohibited category regardless of whether they would elsewhere be classed as security, utility, stablecoin or NFT.retrieved M4bindingin force
Cryptocurrency mining is explicitly captured within NRB's blanket ban alongside trading and holding. Nepal has no separate legal treatment for staking, DeFi lending, DEX usage, node operation, validator activity or tokenization; these fall under the same undifferentiated prohibition rather than being individually regulated, so no distinct claim can be sourced for each category beyond the general ban.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
no periodic updates on record for this sub-brief
Sources and findings (2)
T4 · CoinDeskCoinDesk — Nepal's central bank ban on cryptocurrency activities, effective from September 2021, explicitly includes mining alongside trading.retrieved M5bindingin force
T1 · Nepal Rastra BankNepal Rastra Bank — no equivalent in this regimeretrieved M2non-bindinga fact about the regime
Nepal has no stablecoin-specific authorisation, reserve, redemption or disclosure regime. Stablecoins are a form of virtual currency and therefore fall within NRB's blanket prohibition on cryptocurrency trading and holding; there is no legal pathway for issuance or redemption of any stablecoin in Nepal.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
no periodic updates on record for this sub-brief
Sources and findings (1)
T1 · Nepal Rastra BankNepal Rastra Bank — Stablecoins, as a subtype of virtual currency, fall within NRB's blanket prohibition on cryptocurrency trading and holding; no issuance authorisation regime exists because no stablecoin issuance or use is legally permitted in Nepal.retrieved M4bindingin force
There is no dedicated consumer-protection statute for virtual assets in Nepal. NRB's approach to consumer protection in this space is achieved through prohibition itself plus periodic public warning notices; the NRB homepage carries a standing notice characterizing 'Virtual Currency/Cryptocurrency, Network Marketing and Hyper Fund' schemes as illegal, functioning as the primary consumer-facing risk communication in lieu of a positive protection framework (e.g., no custody-segregation or suitability rules exist because no lawful crypto business may operate to be subject to them).
Standing sub-brief128 words · last cycle 2026-09-05
Consumer Protection
Nepal Rastra Bank's Department of Foreign Exchange Management issued a public notice warning against virtual-currency-linked pyramid and network-marketing schemes, naming Hyper Fund, Jocial, Crowd 1 and Solemax Global specifically. This sits within Nepal's standing approach to crypto-related consumer protection, which is achieved through prohibition and enforcement rather than licensed-market safeguards: because all cryptocurrency activity is illegal in Nepal under Nepal Rastra Bank notices and the Foreign Exchange (Regulation) Act, there is no regulated-market disclosure or investor-protection framework to speak of, and warnings such as this one function as the primary consumer-facing enforcement tool available to the regulator.
Outlook
Watch for whether any of the four named schemes becomes the subject of a further enforcement action, and whether Nepal Rastra Bank names additional schemes in subsequent notices.
No new data since the standing brief. 1 periodic run re-emitted it unchanged.
Sources and findings (3)
Unsourcedsource not recorded — NRB Department of Foreign Exchange Management public notice names Hyper Fund, Jocial, Crowd 1, Solémax Global as crypto-linked pyramid schemes.
Unsourcedsource not recorded — NRB Department of Foreign Exchange Management public notice names Hyper Fund, Jocial, Crowd 1, Solémax Global as crypto-linked pyramid schemes.
T1 · Nepal Rastra BankNepal Rastra Bank — NRB maintains a standing public notice on its homepage declaring virtual currency/cryptocurrency, network marketing and 'Hyper Fund' transactions illegal, serving as the principal consumer risk-disclosure mechanism in the absence of a dedicated crypto consumer-protection framework.retrieved M3bindingin force
No dedicated crypto tax framework (capital gains, income tax, VAT/GST, withholding or reporting obligation specific to virtual assets) could be located for Nepal. Given the blanket prohibition on trading, mining and holding, any tax treatment of crypto gains would arise incidentally (e.g., via general income-tax or confiscation/AML proceedings) rather than through a purpose-built virtual-asset tax regime; this is a genuine gap rather than an oversight in this research pass.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
NRB frames the cryptocurrency prohibition explicitly under the Foreign Exchange (Regulation) Act, 1962, treating virtual-currency transactions as unauthorized foreign-exchange dealings and a channel for capital-control evasion. There is no licensed cross-border VASP travel-rule regime because no lawful crypto business may operate; the entire cross-border dimension is addressed through the outbound-restriction lens of capital controls rather than a dedicated crypto travel-rule instrument.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
no periodic updates on record for this sub-brief
Sources and findings (1)
T1 · Nepal Rastra BankNepal Rastra Bank — NRB grounds its cryptocurrency prohibition in the Foreign Exchange (Regulation) Act, 1962, treating cryptocurrency transactions as unauthorized foreign-exchange dealings subject to capital-control enforcement rather than permitting any lawful cross-border crypto transfer channel.retrieved M5bindingin force
Crypto-specific AML/CFT obligations are out of scope for this baseline: crypto subscribes to the FIM aml_ctf module, and Nepal has no licensed virtual-asset service providers against which crypto-specific KYC/travel-rule/SAR obligations could attach given the blanket prohibition. For disambiguation context only (not asserted as a crypto AML/CFT claim): Nepal was placed on the FATF list of jurisdictions under increased monitoring in February 2025 and remained listed as of the February 2026 FATF update, and FIU-Nepal's 2025-updated STR/SAR and Threshold Transaction Reporting guidelines apply to the general Reporting-Entity population, not to crypto businesses specifically (none of which may lawfully operate).
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
no periodic updates on record for this sub-brief
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FAIL
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pass
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pass
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pass
tier_a_b_national_primary_pct
87.5
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0
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Editorial metadata
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Editorial metadata for Nepal
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never_reviewed
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no reviewer on record
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Provenance and declared absence
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