Bitcoin Forum

Hi, Is bitcoin legal in Bangladesh?

As, I am new here, please advise me, how to start.

No, Bitcoin is not legal in your country. I also read about it at this link https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory and it clearly states it is illegal to use bitcoin in Bangladesh .So, I will advice you should only read about this technology and should not invest or indulge in any type of trading related to bitcoin. There are few links which might tell you that even bitcoin mining is legal in Bangladesh but I think even if you earn bitcoin in any ways, there might be no ways for you using it to convert in local currency. But you can use bitcoin to buy stuff online but that too involves high risk as if you get caught you may need to face serious punishment.

No Bangladesh is among those few countries which expressly states bitcoin as illegal unlike the other countries which are unable to form any opinion over it. This means that any kind of transactions or holding BTC becomes illegal.

Bangladesh is one of the many backward-looking countries we have. The country and its people possess the potential for good economic development but as the way things are life can be a little bit difficult in there. The government must not have an open mind especially on matters like that of cryptocurrency. We just hope that as time goes on there would be new people in the government who can see things the other way around. However, those who are good in computer and can use technologies to hide their tracks can get into Bitcoin or any other cryptocurrency but of course the problem is converting it into cash. Maybe the best way is to have a trusted someone in another country who can convert the Bitcoin into cash and have the cash sent to Bangladesh. I am not also sure if internationally-issued Bitcoin-linked debit cards can work in Bangladesh.

You've taken a good decision to work with bitcoin.But,it is a matter of great regret that bitcoin is not legal in Bangladesh. So,you have to work very carefully.

Ok then.As you want to work with bitcoin,I'll suggest you to study about bitcoin first.More knowledge of bitcoin will help to go forward. But,honestly,if you want to buy,invest or do trade with bitcoin,you can face serious punishment as Bangladesh is one of those countries who has directly declared bitcoin as illegal. I think if you yet want do work,you can post in the forum answering different questions and after a certain time, can join any signature campaign and earn bitcoin.In the question of converting bitcoin into taka,I think you have to find someone trustworthy who does this work.It is possible if you want so and take a risk.

thank you.

You are giving a good advice here. Yes, one has to be very careful when the government has a closed mind on cryptocurrency because those in authorities can use this as the basis to declare what the person to be doing as illegal and therefore subject to punishment. It is quite unfortunate that the government is not opening itself for innovations though we also understand that they can be under the wrong impression with cryptocurrency basing on what they heard in the media.

Bitcoin was banned in Bangladesh ages ago, and it remains as such even now. I would advice you not to take unnecessary risks. I am not sure about Bangladesh, but Nepal recently arrested a lot of Bitcoin traders for trading in banned assets. Why risk your career and life for a few coins? If you really want to trade BTC, then travel to India or Myanmar, and do the transactions there.

I will agree with you.Bitcoin is completely illegal in Bangladesh.Not only that, there are many countries in the continent of Asia where Bitcoin is illegal. Money laundering law has been enacted in recent Bitcoin in Bangladesh.

Yes, bitcoin is illegal in Bangladesh so I will have concerns if you engaged on it. So I advise you to be very careful. I don't know what the penalty is so you better be careful. If you really want to go trading and if you have a localbitcoin then I will take that route, but then again, it's a big risk on your end, and I'm not sure if there's really one in your country. I really don't understand why Bangladesh is against bitcoin though, there's a lot of Asian nations who are into bitcoin and those who have been into it are getting huge amount of profit up to this time. You are just very unlucky mate, because some of your neighboring countries are enjoying it, you guys are hiding in the closet away from the prying eyes of the government.

Bitcoin in bangladesh is prohibited by their govt. You can be sent to jail or fined heavyly if found dealing with BTC in any form. So I advise you to remain away from crypto world if u are from Bangladesh.

I am sad to say and learned too that bitcoin in Bangladesh was totally declared ban in the country that who ever doing digital currencies transaction will be punish accordingly so better if you forget all about bitcoin in this area to avoid facing consequence because there is no other ways to force yourselves to join bitcoin transactions.

As Far as I know in addition, Every Country That is not Democratic They are not Welcoming The Crypto Digital Currency Which Can Give Them A Good Help For Economic Progress. And Every Politician Who cannot Implement The Decentralization of Bitcoin into any other country is Corrupt They Are after Money, Why? because If They Accept bitcoin, all Their Transactions Should be Transparent to People and Congregation. However, Bangladesh has Miners Also But in Underground Work.

Bitcoin is illegal in about 5-6 countries. Israel joined the last among these countries. I think we have felt the influence of Israel, and we will continue to feel it.

you can search to know if you want joining bitcoin in Bangladesh. i think it's so difficult to accept in Bangladesh.

No in Bangladesh, bitcoin is not recognized as a legal currency, and it is not known whether it is there or not. Only a few countries recognize bitcoin as a means of payment.

No bitcoin is not legal in bangladesh just a few days ago bangladeshi govt. Clearly stated that any person who is dealing in cryptocurrencies will be strictly dealt by the central bank as well as bangladeshi agencies. If you are from bangladesh I recommend you take proper precautions before beginning your journey so that you don't get into some big trouble.

I read someone posted here that bitcoin in Bangladesh is illegal already and in that case if you'll not know that it is not allowed on your country then you may charge some serious files against it.

And you are not the only one that is experiencing that feeling of disappointment that bitcoin is illegal to your country, there are also other countries that are banning bitcoin and everything which is related to it.

You are living there so you must know certain websites that is related to your government news but you can just google search it and this popped out.

* Central bank issues notice banning Bitcoin in Bangladesh (https://www.dhakatribune.com/business/banks/2017/12/27/bangladesh-bank-ban-bitcoin/)

As far as I know, the possession of Bitcoin as such is not illegal in Bangladesh. But you will face issues if you try to convert your coins to fiat (or vice versa). So my advice is to travel to some of the neighboring nations (India, Sri Lanka.etc) and do the conversion there if you are really that desperate to either sell or purchase Bitcoins.

If, Bitcoin is not legal in my country then why should we spent and waste our valuable time behind this effort of earning these Bitcoins?

good question.  If bitcoin is not recognized as payment method , it does not mean it is illegal. So if it is prohibited by law to use it by any means only then you can say that it is illegal.

I think this is only waste of our valuable time and money if we Bangladeshis spent time and money behind this i.e. earning Bitcoins!

Its ok to make income in bitcoin even you are in the country which bitcoin or digital currency is banned or illegal but you should need to be more careful on spending it or if you want to exchange your bitcoin to fiat go to other countey which is very near in bangladesh which bitcoin is treated as legal curremcy.

I really don't know that there is a site like this that keeps track of the unfolding events that happens in every country and even update it to the latest events and recent publications. All I just do in using bitcoin is use it and assume all is well without knowing that series of discussion has been done on the subject matter by regulatory authorities thankfully, there is no express position from my country yet.

I think for Op since the government have stated it expressly that they don't want, the next is for him to study the implementation and the crackdown because there is difference between laws on paper and its implementation. If the implementation can accommodate your use without gathering any attention, then go ahead if not, I suggest you stay out of it.

It is hard to confirm if Bitcoin is really illegal in Bangladesh since the latest news that I read about it is related not about Bitcoin but it is mostly related to an illegal exchange being run in their government.  The bottomline is they are running an illegal operation of a Bitcoin exchange without the proper business permits that is why they got arrested. I haven't read any news about Bitcoin being illegal as a payment method.

Unfortunately , Bitcoin is banned in Bangladesh . The event is more unfortunate because major bitcoin mining activities and projects were taking place in Bangladesh which are just halted due to the sudden ban in the country . Bitcoin was not considered legal in Bangladesh because government had no hold on its activities and something that cannot be controlled by government has to be banned ( which is the outlook of most governments) .  People are actually getting arrested in Bangladesh over the use and exchange of Bitcoin.
If you belong to Bangladesh and you aspire to do something in bitcoin , you better get out of there .

News came out across on the world that Bangladeshi government starts to ban bitcoin as there's a directive coming from your central bank. But you are from there so you can confirm that by yourself as we are living offshore and we are not aware on what's really happening there but articles are published and it says the same thing.

The central bank of Bangladesh issued a notice on its website saying that the currency is not authorized by any regulatory authority so it may cause financial loss to the citizens. It also said that it encourages money laundering and different terrorist acts. Well, this is what they say, now the real reason behind its ban is unknown to anyone except themselves. Read the article below for more information regarding the ban of Bitcoin in Bangladesh.

https://www.dhakatribune.com/business/banks/2017/12/27/bangladesh-bank-ban-bitcoin/

In Bangladesh bitcoin in illegal. forex trade is also illegal. recently government has approved use of paypal to some extend. but people are trading. so its important to make it legal. then people can trade easily & government can get revenue as well.

No. Still, it's not legal in Bangladesh as a few days back our governor said they will hold a meeting for this and then they will tale proper decision.

yes, you are right, there are many ways to use bitcoin, if their country has not legalized the use of bitcoin, maybe they can use bitcoin as a transaction for purchase, there are some countries that have not given permission to use bitcoin, because of the original currency law in their country .

Based on what I read, I can Identify if Bitcoin is legal in Bangladesh or not but they  have a regulation about it to prevent to used this in illegal activities. Which is good, despite of having a doubt of other country still there has a country that accepted it. However, In another article I read they officially banned bitcoin and if they caught using virtual currency they might get in jailed. Its not a good news for us, its sad to hear that it will go thorough this kind of thing. Well, we can not blame them if they has a policy about it we need to follow and respect their decisions.

Hopefully the other country could not do this because it can be a reason to down the virtual currency which is we avoid to happened.

the government of Bangladesh expressly forbids all forms of bitcoin transactions and the government hunts down those who trade and use bitcoin, but there is something strange in the country even though the government is strictly forbidden but the users of bitcoin are still very much.

As I know, bitcoin is illegal in Banngladesh, just like in most countris in ASIA.
Well, if you wanna start running your bitcoin, first thing you have to do is patient; patient is important in facing crypto world. Secondly, try with small numbers, keep or trade in the right time, because up and down is there in bitcoin, take turn to blow. Be a smart trader who make money, not a frighten seller who lost moey. So, keep learn and get yourself experienced.

the government of Bangladesh strictly prohibits the trading of bitcoin in the country, but we all know that bitcoin is traded through open source cryptographic protocols, eliminating the need for financial organizations or banks so that no financial body in this world can regulate it, and in Bangladesh there are many people there who has bitcoin.

Are you ang Bangladesh?because if you are and want to join this investments then better think of it carefully as you might be in trouble if you are living in this country and your hard work and efforts might be wasted. So before that will happen i suggest you to do not join this investment if you are currently living in this country and its no use of teaching you then. https://www.google.com.ph/amp/s/www.thedailystar.net/law-our-rights/law-analysis/bitcoin-legality-in-bangladesh-bank-1602583%3famp

I won't say that its a accurate picture of Asia as far as Bitcoin is concern. There's still a lot of countries which is bitcoin friendly like Japan, South Korea, HongKong, Singapore, Malaysia and even The Philippines. And Asia will be one big crypto hub in the future so for those countries we turn their back on crypto because of the old nonsense belief that it can disrupt their financial stability then they will be left out in the closet that's for sure. So its either they open their eyes and look at bright side or crypto or stay with their hard line stance while their neighbors are taking all the benefits of this new technology.

Off course there are, even in other countries who have pronounced ban on it because it is decentralized and not regulated. I think ban on such decentralized coin just means that the country is not supporting it and won't have to have any matter on it in court.