Nepal Central Bank Plans CBDC Within Two Years
The central bank of the South Asian country, Nepal Rastra Bank (NRB), declared its plans to create a central bank digital currency (CBDC) in August 2022. In addition, the NRB urged lawmakers to include provisions for the issuance of digital currency in the Nepal Rastra Bank Act, which now only addresses the issuance of tangible currency.
The NRB has prohibited cryptocurrency trading and mining in the nation from September 2021. Residents of Nepal have been warned against engaging in any cryptocurrency-related activity because doing so could result in legal repercussions.
(With inputs from Shikha Singh)
You need to login in order to Like
