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Nepal forming a special task force to control Hyper Fund and cryptocurrency transactions

Photo: PxHere

Kathmandu, February 2

Following revelations that some people in Nepal are allegedly found involved in illegal Hyper Fund and other cryptocurrency transactions, the government is preparing to establish a special task force.

Finance Minister Janardan Sharma has proposed the task force arguing the transactions seriously affected revenue collection and remittance inflow.

“We cannot stay silent as many illegal transactions are taking place. We need to work on its control from today itself,” Sharma told a meeting of the Central Revenue Leakage Control Committee at the ministry of Wednesday.

Supporting him, Finance Secretary Madhu Kumar Marasini says only one state institution such as the Nepal Police cannot control such crimes now.

“We have agreed that a task force will be established, even involving the central bank, the Nepal Telecommunications Authority, the Department of Revenue Investigation, all security agencies and concerned bodies under the Ministry of Finance.”

The ministry officials say discussions are underway on who will lead the task force against cryptocurrency transactions and who else will be involved.

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