KATHMANDU, JULY 4 Police have arrested a 25-year-old man on charges of carrying out illegal cryptocurrency transactions worth more than Rs 14.87 million. The Kathmandu District Police Office on Friday identified the arrestee as Mukesh Prajapati of Madhyapur Thimi-5, Bhaktapur. Police spokesperson Superintendent of Police Pawan Kumar Bhattarai said the investigation has so far found that Prajapati conducted cryptocurrency transactions totaling Rs 148,76,527.46. Investigators also recovered digital assets worth 7,485 US dollars (approximately Rs 1.14 million) from his various digital accounts. The Kathmandu District Court has granted police a five-day remand to continue the investigation. Cryptocurrency trading is illegal in Nepal.

(Editor's Note: This story has been revised to correct inaccuracies in the original version.)