Petition Filed On Supreme Court to Make Cryptocurrency Legal Recognized in Nepal

21st August 2022, Kathmandu

A writ petition has been filed in the Supreme Court asking that the digital currency cryptocurrency should be legally recognized.

Advocates Sagar Baral, Dipesh Dhakal, Kosis Giri, Sampurna Basnet, and Sougat Raj Baral filed a case in the Supreme Court on Thursday, demanding the annulment of the notice issued by the National Bank regarding cryptocurrency as illegal.

Since there is no clear basis for declaring cryptocurrency illegal, a high-level study committee has been formed and a bill has been prepared based on its recommendations and a necessary order has been requested to enact a law.

They have also demanded an interim order not to arrest anyone on charges of crypto trading, use, or mining until the final edge of the writ is reached. A preliminary hearing on the petition will be held on Monday.

Nepal Rastra Bank, Office of the Prime Minister and Council of Ministers, Ministry of Law, Justice and Parliamentary Affairs, Ministry of Finance, Ministry of Home Affairs, and Nepal Police Police Headquarters have been filed as opponents.