Maldives vs Nepal
Crypto regulation comparison
Maldives
Nepal
Restricted
Banned
The Maldives Monetary Authority has warned against cryptocurrency and does not recognize it as legal tender. No specific legislation exists but the MMA discourages crypto activities.
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
Maldives Monetary Authority (MMA)
Regulator
NRB (Nepal Rastra Bank)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
All crypto activities banned
Key Points
- MMA has warned against cryptocurrency use
- Crypto not recognized as legal tender
- No specific cryptocurrency legislation
- Financial institutions discouraged from dealing in crypto
- Limited crypto adoption
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