Govt forms special task force to control crypto transactions and network marketing

FILE PHOTO: Representations of the Ethereum virtual currency standing on the PC motherboard are seen in this illustration picture, February 3, 2018. Photo Courtesy: Reuters

Kathmandu: The government has formed a special task force to control online network marketing and crypto transactions.

A six-member task force has been formed headed by the head of the revenue division of the finance ministry.

The other members of the task force are senior officials from the Asset Laundering Department, Revenue Investigation Department, Nepal Rastra Bank and Nepal Telecommunication Authority and Nepal Police.

Deputy Director General Tanka Prasad Pandey has been appointed to the task force from Revenue Investigation while Engineer and Director of Nepal Telecommunication Authority Bijay Kumar Roy is a member.

Stating that the use of digital technology has increased revenue leakage and affected the flow of remittances, Finance Minister Jarnadan Sharma had announced the formation of a special task force to control such transactions.

Stating that the country’s investment capital is being diverted from illegal activities such as cryptocurrency, digital casino, hyper fund, digital networking, the ministry has formed such a task force to control it.