News Explorer — Crypto Adoption in Nepal 'Warrants Close Monitoring': IMF

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Jun 11, 11:33 am

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Crypto Adoption in Nepal 'Warrants Close Monitoring': IMF

Despite Nepal's ban on crypto transactions in 2021, the International Monetary Fund (IMF) reported a significant increase in crypto adoption in the country, urging authorities to closely monitor the sector for financial stability and illicit flows. The IMF highlighted the growth of stablecoins and unbacked crypto assets in Nepal, emphasizing the need for regulatory frameworks aligned with international standards.

Despite Nepal's ban on crypto transactions in 2021, the International Monetary Fund (IMF) reported a significant increase in crypto adoption in the country, urging authorities to closely monitor the sector for financial stability and illicit flows. The IMF highlighted the growth of stablecoins and unbacked crypto assets in Nepal, emphasizing the need for regulatory frameworks aligned with international standards.

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