It will probably take time for legalizing Forex The forex Reserves is only 10b$ in which it imports a lotttttt There are nations as well where Forex and crypto are legal whose Fx Reserve is just as low as 1b$(Laos) another nation Mongolia having reserve of just 8.5b$ so why not legalizing forex? I guess Currency devaluation is also important both laos and mongolian currency are weaker but in case of nepal it is less likely to happen as its pegged with INR and BRI Project Nations are going to use Rupees in their upcoming projects. I think this is the best time to increase Fx Reserves and legalize it. If GON decided legalize it would take approx 2 years to come the Act into action.
Forex market have the most liquidity daily over 6.6 Trillion USD is traded yea a trillion with T. Many Nepalese Traders are also doing forex but in my research there is a specific act that restricts nepalese to invest outside the nation. I recently discovered a tiktok where a person trades capital of a company registered abroad which is much legal i.e propfirms. I wonder how tax is paid. and obviously GOV of Nepal should legalize it and give opportunities to Market Makers in Nepal. Any tax officials or financial advisor do correct me if I’m wrong and suggestions regarding prop firms are welcome
Short NRS. LONG BTC
10lakh to 8 crore.
Hi. Im mr optimistic
It will probably take time for legalizing Forex The forex Reserves is only 10b$ in which it imports a lotttttt There are nations as well where Forex and crypto are legal whose Fx Reserve is just as low as 1b$(Laos) another nation Mongolia having reserve of just 8.5b$ so why not legalizing forex? I guess Currency devaluation is also important both laos and mongolian currency are weaker but in case of nepal it is less likely to happen as its pegged with INR and BRI Project Nations are going to use Rupees in their upcoming projects. I think this is the best time to increase Fx Reserves and legalize it. If GON decided legalize it would take approx 2 years to come the Act into action.
Forex market have the most liquidity daily over 6.6 Trillion USD is traded yea a trillion with T. Many Nepalese Traders are also doing forex but in my research there is a specific act that restricts nepalese to invest outside the nation. I recently discovered a tiktok where a person trades capital of a company registered abroad which is much legal i.e propfirms. I wonder how tax is paid. and obviously GOV of Nepal should legalize it and give opportunities to Market Makers in Nepal. Any tax officials or financial advisor do correct me if I’m wrong and suggestions regarding prop firms are welcome
It’s a gray zone, i mean it’s Great if legalized. Nepse doesn’t have much to offer so forex could fill that gap there, great for TA
NRB, in association with CIB, is soon going to conduct training and certification classes. Stay put!
#jk
Should make it legal maybe.
Illegal ,risky but still wondering despite being illegal so many TikTok videos are promoting forex trading and showing their earned money.