KATHMANDU: Nepal Police have arrested Mohammad Saif, a resident of Dallu, Kathmandu Metropolitan City–15, on charges of illegally dealing in cryptocurrency.
According to Pawan Kumar Bhattarai, Information Officer at the District Police Range, Kathmandu, Saif, originally from Kalaiya Municipality in Bara and currently living in Dallu, was taken into custody following information that he had been engaging in cryptocurrency transactions, which are banned in Nepal.
Police said they seized two mobile phones used in the transactions. Upon investigation, authorities found that Saif had carried out cryptocurrency dealings worth more than Rs 198.149 million.
The Kathmandu District Court has extended his remand by five days for further investigation under the offense related to the use of prohibited immaterial currency.
Comment