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IMF Calls on Nepal to Establish Cryptocurrency Regulatory Framework and Closely Monitor Stablecoin Flows

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Mars Finance news, according to Decrypt, the IMF said in its latest annual assessment of Nepal that although Nepal has fully banned cryptocurrency trading and mining since 2021, the inflow of crypto assets and stablecoins grew rapidly between 2019 and 2024, exceeding 13% of GDP at one point in 2021; it rebounded to about 8% in 2024, with cross-border flows accounting for roughly 5% of GDP. The IMF recommends that Nepal build a crypto regulatory framework in line with international standards and strengthen monitoring of stablecoins and unpegged crypto assets to prevent circumvention of capital controls and large-scale deposit outflows, and urges it to complete the FATF action plan and exit the grey list.
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