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 Nepal 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.