The Nepal Telecommunications Authority (NTA) has announced tighter measures to control illegal economic activity, has cracking down websites and applications that offer virtual currencies and online gambling. Such sites are prohibited in Nepal and have been blacklisted.
The regulator has urged people to email information about sites that violate the ban and warned of legal action if anyone involved with such sites. According to local media reports, the NTA found that many Nepalese living inside and outside the country were involved in illegal transactions, including using cryptocurrencies and via online gambling, and their use is rising.
A few weeks ago, Nepal’s Ministry of Tourism reportedly cancelled three casinos’ licenses after the operators allegedly failed to pay unpaid duties and renewal fees by deadlines set. The three casinos failed to pay outstanding fees totaling NPR905.5m (US$7.4m).
The Nepalese government has collected RS$810m in royalties from Nepal’s casinos, but more than RS$1.1bn (US$9.2m) remains unpaid. Some 17 casinos have paid their license fees, according to the tourism ministry.
In February, authorities also revoked the licenses of two hotels for failing to pay royalties. Yak & Yeti Hotel failed to pay Rs420m while Dreamland Hotel failed to pay Rs3.8m.
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