Nepal is currently in the research phase. The Nepal Rastra Bank issued a concept report in 2022 that ultimately concluded that additional research was needed. The report recommended forming a dedicated research unit within the Nepal Rastra Bank, setting a strategic plan, conducting a feasibility study, establishing a legal framework, selecting appropriate policy goals, and similar foundational initiatives.

A full analysis of the CBDC developments in Nepal and Nepal’s treatment of civil liberties is forthcoming.

In the meantime, for additional information on concerns regarding violations of human rights and civil liberties, see the following reports by Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State. For additional information on concerns regarding the risks of CBDCs, see the following webpage and report by the Cato Institute: The Risks of CBDCs and Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths.

For additional information regarding metrics, the methodology page explains each of the data points and provides their respective sources.