1.45% of Nepal's total population invests in cryptocurrency

Neighboring India has announced that it will launch its own cryptocurrency next year. Presenting the budget for the new fiscal year on Tuesday, Indian Finance Minister Nirmala Sitharaman announced the introduction of digital currency and a 30 per cent tax on the proceeds from crypto transactions.

In Nepal, cryptocurrency trading is legally prohibited. But according to a recent public report, millions of Nepalis have been found trading in such intangible currencies. Singapore's crypto payment gateway 'Triple A' has recently released a new report on cryptocurrency users around the world.

According to the report, 1.45 percent of the total population of Nepal has invested in cryptocurrency. The number of people investing in cryptocurrency in Nepal is around 424,000. It is said that big businessmen and high ranking officials of Nepal have also invested in crypto. When investing underground going in this way, the regulatory body is only catching small crypto agents to show that it has complied with the law. In order to get to the root of crypto in Nepal, the big fish that invest in it have to be caught so that the law of crypto-prohibition will be followed properly.