TechFlow news, September 12 — According to TheStreet, Nepal's Prime Minister KP Sharma Oli has stepped down amid unrest triggered by anti-corruption protests and a social media ban, with at least 22 people killed during the demonstrations. Although Nepal's central bank fully banned cryptocurrency transactions in 2022, locals have increasingly turned to Bitcoin and stablecoins like USDT for transactions during government-imposed blockades on banks and payment systems.
The report noted that during the protests, Telegram groups and Reddit forums were flooded with information about buying and selling USDT, as traders used peer-to-peer exchanges and decentralized exchanges to bypass traditional financial systems.
A 19-year-old student said he received funds via Bitcoin from his cousin in Dubai: "Western Union takes days and charges high fees, but with Bitcoin I got the money within 10 minutes." Locals say USDT has become a parallel currency for purchasing essentials and sending remittances.
