The International Monetary Fund (IMF) has advised Nepal to develop a regulatory framework for cryptocurrencies and enhance monitoring of stablecoin transactions. Despite Nepal's ban on crypto trading and mining since 2021, the IMF's annual assessment revealed significant growth in crypto and stablecoin inflows, which peaked at over 13% of GDP in 2021 and stabilized at around 8% in 2024. Cross-border crypto flows accounted for approximately 5% of GDP. The IMF emphasized the need for Nepal to align its crypto regulations with international standards to prevent capital control circumvention and mitigate risks of large-scale deposit outflows. Additionally, the IMF urged Nepal to complete the Financial Action Task Force (FATF) action plan to exit the grey list, highlighting the importance of robust financial oversight.
IMF Urges Nepal to Implement Crypto Regulations Amid Rising Stablecoin Flows
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