Kathmandu, Jul 8 (PTI) In two separate incidents, Nepal police on Tuesday arrested two Indians and a Chinese national for trading in illegal cryptocurrency and possessing a huge amount of illegal bank notes, police said.

In the first incident, Rupesh Kumar, 43, and Bipin Kumar 22, both residents of Bihar, were arrested on charges of operating a cryptocurrency racket under the cover of a grocery shop at Sanepa in Lalitpur district.

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The police have recovered 820,000 Nepalese rupees and 20,000 Indian banknotes from their possession.

Preliminary investigation reveals that they have already made illegal transactions equivalent to 1.5 billion Nepalese rupees through cryptocurrency, police said.

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In another incident, a Chinese national Wang Ziang, 40, was arrested in Kathmandu in connection with possessing NRs. 14.4 million bank notes without documented sources.

Wang was arrested from his room on the outskirts of Kathmandu following a tip off, the police added.

The police have initiated necessary legal action in both cases.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)