Nepali President G. P. Sushil Kumar Bhatnagar, who has been battling corruption allegations for years, said on Monday that he wants to take the Bitcoin and other digital currencies to the next level.
Speaking to reporters in Kathmandu, Bhatragar said that his government will work on this matter through its Ministry of Finance and other government departments, the Kathmandua Post reported.
The Nepali currency has been pegged to the dollar and the Bitcoin is also pegged to its value.
Bitcoin is used mostly by foreigners in countries like the US and Japan, where the US dollar is accepted.
Bitcoin is widely used for international transactions, and the Nepalese government has struggled to control the currency amid corruption allegations and the economic downturn.
The country has also been dealing with the rising costs of running the country.
Bitcoin users have expressed their discontent with the currency, which has become a favorite among local and international Bitcoin businesses.
Bhatraga said the government will make its position clear in the upcoming legislative session, the Post reported, adding that he plans to work on the issue during his tenure.