Nepal vs Tonga
Crypto regulation comparison
Nepal
Tonga
Banned
No Regulation
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.
Tonga has no specific cryptocurrency regulation. There has been legislative interest in adopting Bitcoin as legal tender but no legislation has been enacted.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
NRB (Nepal Rastra Bank)
Regulator
National Reserve Bank of Tonga
Stablecoin Rules
All crypto activities banned
Stablecoin Rules
No stablecoin regulation
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
Key Points
- No specific cryptocurrency legislation
- Legislative interest in Bitcoin legal tender discussed
- National Reserve Bank provides monetary oversight
- Limited crypto infrastructure
- No licensing framework for crypto services