Two bitcoiners in detention, Nepal deal with popular cryptocurrency

Fact, Bitcoin exchange and information are prized on other parts of the world. Nepal dealing with the world’s most popular cryptocurrency. However, the government has arrested another two bitcoiners even after dozen of bitcoiners are already in jail.

Nepal Names

The Purusottam Dhar Tuladhar and Ram Dhakal may a well known convention circuit stars. They are gazillionaires to seek after their business drive. Also, in Kathmandu and Pokhara, Nepal names that splattered online and are Bitcoin criminals.

According to the news source,

“The Central Investigation Bureau (CIB) of Nepal Police has arrested two persons for allegedly operating a Bitcoin racket. It is under the cloak of online technology business”.

CIB speaker of SB Jeevan Shrestha says that two were allegedly running cryptocurrency racket on the name of Bitsewa Pvt Ltd.

The Nepalese authorities assert,

“They registered a company in the name of Bitsewa Pvt Ltd on the pretext of running business of online technology, information dissemination and software development. They had also opened calling it ‘Bitsewa: Nepal’s First Bitcoin Company and Digital Assets Exchange’”.

Bitcoin is an online technology, distributed via information and software.

Also Read: Celebrity ICO endorsements ‘Potentially Illegal’: SEC

Allurement through Facebook

Since, the article was portraying the exchange’s customers are under allurement. As in “the pair was also attracting people via company’s Facebook Page”.

The article goes,

“Though it is legal in some countries and over 1,100 Cryptocurrencies are in practice. Its trading is punishable under the Nepal Rastra Bank Act”.

The Nepal Rastra Bank Act published in 2002, clearly makes no mention of Cryptocurrencies or Bitcoin. Though it is unclear of the part of the head the two in detain.

The new ensures to emphasize how the “central bank has already obligatory a ban on the transaction of Bitcoin and gravity coin in Nepal”.

Techlekh‘s Abhishek Gupta writes,

“Though Bitcoin is flourishing in some countries, it is still seen as an economic threat to many. The threat appears to be how many countries fear that since Bitcoin transactions are highly anonymous [and how] it can become a tool for criminals for germinating several crimes, especially money laundering”.

Read Next: Bitcoin Purchases Illegal under Law: Namibian Central Bank

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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