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The International Monetary Fund (IMF) urges Nepal to strengthen monitoring of cryptocurrencies.

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According to Decrypt, the latest report released by the International Monetary Fund (IMF) states that although Nepal has completely banned all cryptocurrency trading, mining, and related activities since 2021, the country's cryptocurrency adoption rate has still grown significantly between 2019 and 2024. IMF staff calculations show that Nepal's cryptocurrency inflows were negligible in 2020, then surged to over $2.6 billion in 2021, at one point accounting for more than 13% of its gross domestic product (GDP), with stablecoins occupying a larger and growing share. By early 2025, its cross-border crypto flows accounted for about 5% of GDP. The IMF strongly urges Nepalese authorities to closely monitor the industry and establish a regulatory framework that meets international standards to prevent capital controls from being circumvented and large-scale deposit outflows.
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CancelingOrdersIsLikeBreathing
· 3h ago
2.6 billion to 5% of GDP, stablecoins have become the main players, it's normal for the IMF to be anxious, who isn't afraid of hidden capital channels
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BluePeonyDarkroom
· 3h ago
2019-2024 Doubling growth, the 2021 ban seems like it never existed, and the demand from the public can't be suppressed.
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MetalRoboticArm
· 3h ago
Nepal's data is quite surreal—banning while prices rise, policies and markets are always playing a cat-and-mouse game.
View OriginalReply0

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