Cryptocurrency transactions may be allowed in Nepal: Finance Minister

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KATHMANDU, Nov 24: Finance Minister Janardan Sharma has said that cryptocurrency transactions may be allowed in the market in the future.

Speaking at a program organized by Nepal Rastra Bank on Wednesday, Minister Sharma said, “First, we have to increase the use of digital payment systems after which we can move toward the use of ‘cryptocurrency’.

What is cryptocurrency?

Cryptocurrency is a digital or virtual currency that can be used to buy services and goods. There are no central banks for cryptocurrency but are recorded through a series of ‘blockchain’ in the computers of crypto users all across the globe, which makes it almost impossible to hack and manipulate. Some examples of cryptocurrencies are Bitcoin, Ethereum, Dogecoin, Cardano etc.