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United Kingdom vs Nepal

Crypto regulation comparison

← Back to map | United Kingdom | Nepal
United Kingdom

United Kingdom

Nepal

Nepal

Legal
Banned

The UK has an evolving and increasingly comprehensive crypto regulatory framework. The FCA registers crypto firms for AML/CFT compliance and has imposed strict financial promotion rules requiring risk warnings and banning incentives. HMRC treats crypto as property subject to Capital Gains Tax (10% basic rate, 20% higher rate, with £3,000 annual exemption from 2024/25). The Financial Services and Markets Act 2023 brought crypto assets into the UK regulatory perimeter, and HM Treasury is developing rules for a full crypto regime including exchange licensing, stablecoin regulation, and a potential UK CBDC ('Britcoin').

Nepal has banned cryptocurrency trading, mining, and transactions. The Nepal Rastra Bank declared crypto trading illegal in 2017, and the Nepal Telecommunications Authority has been directed to block crypto exchange websites. Law enforcement has arrested individuals for operating crypto exchanges. Despite the ban, some citizens use VPNs to access crypto.

Tax Type Capital gains
Tax Type None
Tax Rate 18-24%
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining No No
Regulator FCA (Financial Conduct Authority), HMRC, Bank of England
Regulator NRB (Nepal Rastra Bank)
Stablecoin Rules Stablecoin regulation under Financial Services and Markets Act 2023; fiat-backed stablecoins to be regulated by FCA
Stablecoin Rules All crypto activities banned
Key Points
  • FCA AML registration required for all crypto firms operating in the UK
  • Capital Gains Tax: 10% (basic rate) or 20% (higher rate); £3,000 annual exempt amount (2024/25)
  • Financial promotions regime (2023): strict rules on crypto advertising, risk warnings mandatory
  • Financial Services and Markets Act 2023 brings crypto into regulatory perimeter
  • HM Treasury developing comprehensive crypto regulatory regime (exchange licensing, conduct rules)
Key Points
  • NRB declared all crypto trading and transactions illegal in 2017
  • Mining cryptocurrency is also prohibited
  • NTA directed to block access to crypto exchange websites
  • Arrests have been made for operating crypto trading platforms
  • NRB exploring a central bank digital currency (CBDC) as an alternative
Sources
Sources