Libya vs Nepal
Crypto regulation comparison
Libya
Nepal
Banned
Banned
Libya has a restrictive stance on cryptocurrency. The Central Bank of Libya has warned against crypto use. Political instability and a divided government complicate any regulatory development.
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
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
No
Mining
No
Regulator
Central Bank of Libya
Regulator
NRB (Nepal Rastra Bank)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
All crypto activities banned
Key Points
- Central Bank of Libya has warned against cryptocurrency use
- No specific cryptocurrency legislation
- Political instability limits regulatory development
- Crypto used informally despite restrictions
- No licensed crypto exchanges operate
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