Jun 26, Kathmandu - Vishal Tiwari, a local cryptocurrency trader, was released on bail by the district court after being arrested on charges related to crypto trading. The court granted him bail upon payment of Rs 100,000.

District Police Chief SP Govinda Puri announced during a July 21 press conference that authorities had apprehended an individual involved in cryptocurrency trading and were conducting an investigation. He emphasized that the case indicates the emergence of new trends in economic crimes within Chitwan.

Tiwari, aged 41, from Nawalrasi (formerly Bardaghat Sustapur), Kawasoti, was arrested on June 11 at 10:30 p.m. at Santosh View Hotel in Shantibazaar near Muglin Bazaar, Chitwan. The arrest followed suspicion over his mobile phone, which was found to be engaged in USDT cryptocurrency transactions.

Investigation revealed that Tiwari repeatedly purchased USDT, a digital currency linked to the Nepali rupee, via his Binance account. DSP Rabindra Khanal from the District Police Office stated, “Although the amount involved is small, the transactions are clearly cryptocurrency activity.”

The police completed their investigation and submitted a report to the District Attorney’s Office on Monday. The charge sheet was filed the same day, and Tiwari was released on bail the following day.