No one is above the law, thus Laws are made for by people.

Nepal police have officially announced on their facebook page that they have captured 7 people who were trading Bitcoin illegally. Bitcoin and all other cryptocurrencies are considered to be illegal in Nepal as of right now. Nepal government is thus planning to implement online payment gateways, but it's not so clear as of when Nepalese people will be able to pay for the products they purchase online. There are very minimum stores in Nepal where you will be able to pay with your credit or debit card. All this sums up to the reason why it's still illegal to trade bitcoins. The country is barely even planning to adopt 30 years old technology now. When the country is moving slower than a turtle, people of Nepal are already willing to adopt new technology and sees future in BlockChain Technology.

Here is the post from Nepal Police Official Facebook page.
Click here to get to the post

Google translate was unable to translate correctly :(
so I manually translated this as much as I can.
Here is the Translated Version of the Post:

7 people have been arrested for trading Bitcoin illegally.
Kathmandu, October 6

Seven people who were trading Bitcoin illegally dishonoring the 
orders from Nepal National Bank are being 
captured by Central Investigation Bureau.

People who are being held by Police are 
Pratap Paudel, age 38, from Sinduli Kalpabrix -4 living in Kathmandu. 
Madhav Khanal, age 25, from Ardhakhachi Than living in Bhatbhatani, Kathmandu.
Pratap Shah, age 24, from from Kathmandu living in Bhatbhatani, Kathmandu.
Bindu Dhakal, age 24, from Nuwakot Belkot living in Kalinki, Kathmandu.
Migma Tamang, age 44, from Sindhupalchok Helambu living in Kathmandu.
Daman Basnet, age 48, from Harisidhi, Lalitpur living in Kathmandu.
Manish Kumar Giri from Rupendhi.

They were illegally trading cryptocurrencies like Bitcoin and 
Gravity coin(worldwide digital payment system) using financial tools 
including foreign exchange trades. Police have captured mobile and laptops 
along with the gangs involved from different locations at different times.

They are undergoing further investigation according to the 
Nepal National Bank Act 2058.

Nepal lies between a Communist country in the North and world's largest democracy in the
South. It looks like Nepal is moving towards the Northern side.The government does have to
protect its people, but for the interest of it's people.

As I was scrolling down the comments below this post. I noticed that there are lots of people
who are welcoming the Blockchain technology. There were comments stating that "It's the weakness of Nepal National Bank and they can't call Criminals to the people who are working as a trader". I saw on the comment that Police where
doing the raids on the business offices to arrest the suspected people.
I did not know that Paypal was also illegal in Nepal.

These are some of the things what people from Nepal are saying about Bitcoin.

If you are interested then there's an article in News.Bitcoin.com which talks about the Bitcoin regulations in Nepal.

Please comment your thoughts about these issues.

Peace be upon Beautiful Country of Nepal.

Click on the image for the source

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