Nepal Rastra Bank, the banking sector regulator and supervisor, has issued a notice on Thursday warning that the transaction, usage and mining of cryptocurrency is illegal in the country.

The statement signed by Ramu Paudel, the executive director of the Foreign Exchange Management Department of the NRB, states that it has come to the attention of the central bank that apart from being involved themselves, some individuals have also been encouraging others to engage in such illegal activities and doing so has or can result in general population being swindled.

It has urged all concerned to refrain from such illegal activities and has said that stringent action will be taken against the wrongdoers as per the law.

A version of this article appears in the print on September 10 2021, of The Himalayan Times.