Cryptocurrency News

The Nepalese police have arrested at least seven individuals for allegedly being involved in virtual currency trading activities in the country as of early October 2017. The arrests were made despite the absence of regulations covering the trading of cryptocurrencies in the country.

Based on local press reports, the suspected traders were arrested by members of the Central Investigation Bureau (CIB) in Kathmandu and Chitwan. Among those arrested were Prashant Pratap Shah of Kathmandu, Bida Dhakal of Nuwakot, and Mingmar Tamang of Sindhupalchok.

According to the CIB’s DSP Jeevan Kumar Shrestha, this is the first time that cryptocurrency exchange operators were arrested in the country.