Nepal Rastra Bank a governing body for monitory policies in Nepal is in the process of considering bitcoin trading in Nepal illegal. The reason behind which is that the fluctuation in the market is too high and investor are supposed to go broke.
I am a strong supporter of cryptocurrency and digitization of money. And I find reason behind such reason illogical because in any business where there is high gain investors know that they could go broke. I am also an investor even I am a small time investor I know the risk involved.
Such Organization which are illegizing these currency trading also should know that it was also an opportunity to stabilize the nation to move faster towards digitized future. if you believe in the future this type of transition are simpler. By creating such a barrier you are not protecting the investor you are destroying their opportunity.
In a time where wall street are flowing money to bitcoin our country is going backward and be in the era of incremental depth.
Ya, I am not a expert in bitcoin, blockchain and cryptocurrency but I can see the future will be revolving around blockchain and these type of technology.
I think crypto community needs to find a way of making country like Nepal and its high ranking member to show future of the world. The innovation around the world with blockchain technology will transform the world but what will happen to the country like Nepal?
Reference: bulletinkhabar.com