During the protests in Nepal, the public extensively used Bitcoin and stablecoins to circumvent government restrictions

ChainCatcher news, Nepal's Prime Minister KP Sharma Oli has resigned amid turmoil sparked by anti-corruption protests and a social media ban, with at least 22 people reported dead in the protests.

Despite the Nepal Rastra Bank's comprehensive ban on cryptocurrency trading in 2022, locals have turned to using stablecoins like Bitcoin and USDT for transactions during the government's lockdown of banks and payment systems. Reports indicate that during the protests, Telegram groups and Reddit forums were flooded with USDT buy and sell information, with traders bypassing traditional financial systems through peer-to-peer exchanges and decentralized exchanges. A 19-year-old student stated that he received funds from his cousin in Dubai via Bitcoin, saying, "Western Union takes days and charges too much, while with Bitcoin I received the money in 10 minutes." Locals say USDT has become a parallel currency for purchasing essentials and remittances.