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Polymarket in Nepal (2026) | Accessible — How to Deposit, Legal Status & Tax Guide

Polymarket is not geoblocked in Nepal, but Nepal's domestic law (enforced by Nepal Rastra Bank) bans crypto trading. Learn the legal status, the proposed 2025-26 regulatory changes, and how to deposit via USDC.

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Important: Polymarket does not geoblock Nepali IP addresses, but Nepal is one of the few countries with a hard legal ban on cryptocurrency. The platform is technically accessible, yet the domestic legal environment is highly restrictive — Nepal Rastra Bank (NRB) has prohibited all crypto activities since 2017, and the government has stepped up enforcement with ISP-level blocking and arrests of traders. This page explains Polymarket’s accessible status, the NRB ban, the proposed 2025-26 regulatory changes, and what participating would involve.

Current Status: Accessible

Nepal is not on Polymarket’s geoblocked countries list. The platform is fully usable from Nepali IP addresses, and Nepali users can sign up, deposit, and trade on all available markets.

That said, “accessible” here refers only to Polymarket’s own blocking policy. It says nothing about Nepal’s domestic law, which is among the most restrictive in the world for crypto. Nepal Rastra Bank has banned every form of cryptocurrency activity — use, trade, investment, mining and facilitation — and the Supreme Court upheld that ban in 2022. There are no legal local exchanges and no legal fiat on-ramp for converting Nepali rupees into USDC.

Nepal’s situation is also changing. As of 2026, the government is actively exploring major legal reforms: the Ministry of Finance is drafting an amendment to the Nepal Rastra Bank Act that would recognise “digital currency” and open a legal path toward a sovereign Central Bank Digital Currency (CBDC), while a consolidated Foreign Exchange Bill would modernise the foreign-exchange framework. The IMF and Nepal’s own Financial Intelligence Unit (FIU-Nepal) have both publicly recommended that Nepal consider replacing its outright ban with a regulated model. None of these changes have yet legalised private crypto, but they signal an active policy debate.

If you are a Nepali resident, weigh the domestic legal situation carefully before participating — this page does not constitute legal or financial advice.

The NRB Ban on Cryptocurrency

Nepal Rastra Bank is the central bank and the primary regulator behind the crypto ban. The sequence of restrictions is well documented:

  • 13 August 2017 — NRB’s Foreign Exchange Management Department issued a public notice declaring all transactions in virtual currencies (including Bitcoin) illegal.
  • 9 September 2021 — NRB reaffirmed the ban by press release, warning against structures used to buy crypto.
  • 8 January 2022 — the Ministry of Communication and Information Technology directed ISPs to block access to crypto exchanges and apps (Binance, Coinbase, Bybit, KuCoin, and others).
  • 2022 — the Supreme Court dismissed a Public Interest Litigation challenging the ban, holding it within NRB’s competence.
  • 2023-2025 — NRB monetary policies reaffirmed the ban and tightened KYC rules on wallet and remittance providers (eSewa, Khalti, IME) to detect crypto off-ramps.

The ban rests on several laws:

  • Nepal Rastra Bank Act 2058 (2002) — Sections 52(1) and 61 give NRB exclusive authority over currency and payment instruments.
  • Foreign Exchange (Regulation) Act 2019 (2062 BS) — Sections 3 and 9 prohibit dealing in foreign exchange or holding foreign-currency assets outside the NRB framework; crypto is treated as “foreign exchange / value” for this purpose.
  • Asset (Money) Laundering Prevention Act 2064 (2008) — used against transactions that conceal the origin of funds.
  • Electronic Transactions Act 2063 (2008) — used to prosecute promotion or advertising of crypto.

Penalties can include fines of up to three times the amount transacted plus imprisonment (up to three years under the forex framework, and up to seven years in some prosecutions under the NRB Act), alongside confiscation and account freezes.

Enforcement Bodies

  • Nepal Rastra Bank (NRB) — the central bank and lead regulator; issues the prohibition and monetary-policy directives.
  • Financial Intelligence Unit (FIU-Nepal) — sits inside NRB; collects Suspicious Transaction Reports (STRs) for crypto-related activity and advises on policy.
  • Nepal Police Cyber Bureau & Central Investigation Bureau (CIB) — investigate and arrest crypto traders and exchange operators.
  • Department of Money Laundering Investigation (DMLI) — handles laundering-linked cases.
  • MoCIT / Nepal Telecommunications Authority — enforce ISP-level blocking of crypto platforms.

The Proposed Change (2025-26): A Possible Shift

Nepal is actively considering reform, although nothing has legalised private crypto yet:

  • NRB Act Amendment (2026) — the Ministry of Finance is preparing a draft amendment to the Nepal Rastra Bank Act that broadens the definition of “currency” to include “digital currency.” This would create the legal basis for NRB to issue a Central Bank Digital Currency (CBDC) and for fully digital “neo-banks.” The bill was previously tabled and lapsed with a dissolved parliament, and is expected to be reintroduced.

  • Foreign Exchange (Regulation and Management) Bill (July 2026) — a consolidated bill replacing the 1962 Act and the 1964 Investment Abroad Act. Notably, it explicitly bars the use of any electronic or virtual currency not recognised as legal tender or as a valid foreign-exchange instrument by NRB, so this particular reform would continue rather than end the ban.

  • IMF and FIU recommendations (2025-26) — the IMF’s June 2026 Article IV report flagged rising crypto adoption despite the ban and recommended “a clear and well-sequenced regulatory framework” aligned with international standards for financial integrity, consumer protection and capital-control management. FIU-Nepal’s own Strategic Analysis Report 2025 recommended a formal sectoral risk assessment to determine “whether the current prohibitive approach is effective or if a shift towards a regulated model is necessary to manage risks effectively.”

In short, the direction of travel is toward some form of digital-currency regulation, but as of 2026 private crypto trading and prediction markets remain outside the law.

How to Deposit from Nepal

There is no legal local exchange or fiat on-ramp in Nepal — no platform can legally convert NPR into USDC, because NRB has banned the activity and ISPs block the major global exchanges. In practice, Nepali users who participate rely on global exchanges, usually accessed with a VPN despite the ISP blockade.

ExchangeNPR On-RampISP State in NepalNotes
BinanceNo (blocked)ISP-blockedMost commonly named platform in Nepali enforcement cases
BybitNo (blocked)ISP-blockedWidely used for USDC; flagged in prosecutions
OKXNo (blocked)ISP-blockedGlobal exchange, no lawful NPR rail
KuCoinNo (blocked)ISP-blockedNamed alongside Binance in Nepali cases

A clear legal warning: none of these exchanges accept Nepali rupees through an authorised channel, all are ISP-blocked in Nepal, and using them — or a VPN to reach them — does not legalise the transaction. Regulatory agencies treat crypto on-ramping as illegal and have arrested traders and frozen bank accounts. There is no lawful deposit method, so any route you choose carries domestic legal and financial risk.

Using a Global Exchange for USDC

If you still choose to proceed, the practical mechanics for obtaining USDC are:

  1. Create an account on a global exchange (Binance, Bybit, OKX, or KuCoin).
  2. Acquire USDC there — there is no legal NPR deposit rail, so you would need to source USDC by other means (e.g. prior holdings or an existing external balance).
  3. Send the USDC to your Polymarket deposit address.

Transfer USDC to Polymarket

  1. Go to Deposit on Polymarket
  2. Select Use Crypto and copy your deposit address
  3. Send USDC from your exchange to the Polymarket address
  4. Choose Polygon for the lowest fees ($3 minimum, arrives in seconds)

For the full walkthrough, see our How to Deposit on Polymarket guide.

Tax Implications

Because crypto is banned in Nepal, there is currently no recognised tax framework for it. Key points:

  • No capital-gains framework: The Inland Revenue Department does not assess or tax gains on cryptocurrency, in part because the activity itself is prohibited. Nepal’s general tax statute — the Income Tax Act 2058 (2002) — has no crypto-specific provisions.
  • No reporting pathway: There is no legal mechanism to declare or report crypto gains, and the authorities explicitly cite the lack of a framework as a reason untaxed wealth can accumulate.
  • If regulation arrives: Should Nepal adopt a regulated model (as the IMF and FIU have recommended considering), gains would most likely be brought under the general income and capital-gains provisions of the Income Tax Act, but no rate or rule exists yet. Don’t rely on any specific figure until the law changes.
  • Compliance risk: Because the underlying activity is illegal, the practical concern in Nepal is not a tax bill but prosecution and asset seizure under the forex, laundering and penal laws.

This page is informational and not tax or legal advice; anyone considering participation should consult a licensed Nepali professional first.

Getting Started

Before starting, be clear that Nepal’s domestic law bans crypto — there is no lawful on-ramp, and participation carries legal risk. If you are a non-resident Nepali abroad operating under the law of your country of residence, the steps below describe the general mechanics:

  1. Sign up for Polymarket — under 2 minutes, no KYC required (via this link)
  2. Obtain USDC on a global exchange (there is no legal NPR on-ramp)
  3. Deposit on Polymarket — transfer USDC via Polygon
  4. Place your first trade — start with a small amount
  5. Use limit orders to avoid taker fees — only taker orders pay fees on Polymarket

Frequently Asked Questions

Is Polymarket available in Nepal?
Yes. Polymarket does not geoblock Nepali IP addresses, so the platform is technically accessible from Nepal. However, this is very different from being legal — Nepal's domestic law bans cryptocurrency trading entirely, and prediction markets are not regulated. Accessing the platform does not legalise the underlying activity.
Is Polymarket legal in Nepal?
Participation carries significant legal risk. Nepal Rastra Bank (NRB) has banned all cryptocurrency activities — buying, selling, holding, mining and facilitation — since 2017 under the Foreign Exchange (Regulation) Act and the NRB Act 2002, and the ban was upheld by the Supreme Court in 2022. Online betting/gambling is also prohibited under the National Penal Code. Neither crypto trading nor prediction markets are regulated or recognised, so there is no legal framework covering Polymarket.
How do Nepali users deposit on Polymarket?
There is no legal NPR fiat on-ramp. In practice, users obtain USDC on a global exchange (commonly Binance, Bybit, OKX or KuCoin), then transfer it to their Polymarket deposit address on the Polygon network. Because these exchanges are ISP-blocked and the transactions are illegal under Nepal's ban, this route carries serious legal and financial risk.
How is Polymarket taxed in Nepal?
There is currently no tax framework for crypto in Nepal. The Inland Revenue Department does not recognise or assess capital gains on cryptocurrency, in part because the activity is banned. If Nepal eventually moves toward a regulated model, gains would most likely fall under the general income and capital-gains rules of the Income Tax Act 2058 (2002). For now there is no recognised tax position.
Can I deposit on Polymarket using a Nepali bank transfer?
Not legally. There is no NRB-licensed channel for converting NPR into USDC or sending funds to a crypto exchange. Bank transactions linked to crypto are flagged as suspicious by FIU-Nepal and monitored, and routing funds abroad for crypto purchases is prohibited under the foreign-exchange regime. Any deposit route you use must be weighed against this domestic legal risk.