Bitcoin Forum

Anyone knew about that ???

Is it true news ???

Bangladesh central bank warned the people not to trade bitcoin and they will be taking strict actions who are dealing with crypto currencies.They have alerted the foriegn exchange to monitor the people who are doing transactions with crypto currencies including bitcoin and take necessary action.

This is an old issue and I think they are hunting those people who are using bitcoin and other cryptocurrencies check the article here https://news.bitcoin.com/bangladesh-authorities-hunt-bitcoin-traders/

However, some of my friends from Bangladesh are still accepting bitcoin as payment, but why this news still discussed?

If you are living in Bangladesh better to use a VPN to save your bitcoin or you can exchange it into perfect money and withdraw it in any 3rd party exchange from perfect money.

again like many other countries. its not a law banning it. its a memo/circular that BANKS wont offer trading currencies from BANKS

you wont find a BTM(bitcoin atm) or a bitcoin cashier desk inside a bank branch. because just like toilet roll and baked beans. its not a banks job to offer bitcoin toilet roll or baked beans.

banks are suppose to only handle fiat
this circular is a reminder of fiat laws that banks have to obide by that go back decades/centuries. again this does not ban citizens holding bitcoin or toilet paper. it just reminds banks to not offer a bitcoin trade desk within a bank branch

Yes it is true, but you should not worry too much for it, the bitcoin ban in Bangladesh will not make bitcoin die, and I believe that soon Bangladesh will definitely lift its ban.

I suspect maybe this is related to the law of using bicoin there.
this is normal because some countries apply the same rules.
but after understanding the risks and systems used blockchain technology gradually the government began to provide rules and the public is allowed to use bitcoin.

Yes, Central bank of Bangladesh has proposed a circular announcing that bitcoin transaction is restricted there. So far I think, Bangladesh has banned this in order to avoid corruption, drugs and arms business. I hope like other countries , bangladesh will make a policy regarding cryptos.

Many countries asked a bank to not to deal with crypto exchanges but they didn't ban completely or usage of it. But after reading that news it looks Bangladesh has completely banned the cryptos. Some time if country leaders are not technically strong then they can't understand the future use of new technologies until it becomes quite popular in other parts of the world. No one can change these types of leaders.

I think the government of bangladesh has certain rules so they prohibit bitcoin,and I think they are just banning the banks using payments through bitcoin and not forbidding someone to join the bitcoin world, but I am sure slowly in the future banglades will start legalizing bitcoin ...

you are correct about every other news about "{blank} banned bitcoin" but in case of Bangladesh and 1 or 2 other countries out of 195 countries have actually banned bitcoin. this law is very old though, it was set back in 2014 and the punishment is imprisonment for up to 12 years!

Yeah, they banned in 2017 only. The trading and usage of cryptocurrency remain is on rampage in Bangladesh, despite the central bank’s announcement at the end of 2017, revealing the country’s prohibition on bitcoin use. I also heard few months ago that Bangladesh police was hunting down bitcoin traders.

no country can ban bitcoin. the only way they could do is by banning internet which is not practical today's world, so what people say countries banning bitcoin is the process of discouraging (or reducing chances of) people buying bitcoin by giving official announcements, banning exchanges, etc. but in reality no one can really ban bitcoin, but developing countries like Bangladesh sometimes tend to try to reduce use of digital currencies like bitcoin due to fear of loosing tax (by money laundering etc.)

Great explanation there dude,and besides how can countries banned bitcoin when this is a internet operated currency and until they shut down the whole internet system people can still use bitcoin and those altcoins..

And this is an old issue,i think this is a third old issue of bannung that crosses my eyes since yesterday

Bangladesh Bank has banned the use of Bitcoin, a virtual cryptocurrency, in Bangladesh by issuing a circular on its website.
The circular read that Bitcoin is not an authorised and legal currency in any other country in the world.
“Transaction with this currency may cause a violation of the existing money laundering and terrorist financing regulations,” the circular further read.
However, the notice does not carry any indication on how the regulation would be enforced.
The circular also said Bitcoin is not authorised by any regulatory authority and thereby its use may cause financial loss of the citizens.
“According to the information received from the internet and different news media, transactions have been taking place using different online-based exchange platforms including Bitcoin, Ethereum, Ripple and Litecoin.”

These virtual currencies are not authorised by any legal authority of any country and thereby no financial claims can be made against such currencies.
Besides, these currencies do not conform to Foreign Exchange Regulation Act, 1947, Anti Terrorism Act 2009 and Money Laundering Prevention Act, 2012, the notice also read.
So, the transaction of virtual currencies online with any unnamed or pseudo named peer may cause a violation of the above-mentioned acts and lead clients to face various financial and legal risks.
Under the circumstances, the citizens have been asked to refrain from performing, assisting and advertising all kind of transactions through the virtual currencies like Bitcoin to avoid financial and legal damages.
Meanwhile, a Facebook page titled “Bitcoin Exchange: Bitcoin Buy and Sell Bangladesh” has been opened in recent times.
A local website named bitcoin.com claims that Bitcoin transaction can be performed in Bangladesh through Bkash, Rocket and other general banking accounts.

Bitcoin is gradually gaining popularity across the world. As a result, central banks of many countries have taken measures to adopt separate policies for Bitcoin.
Bangladesh Bank Deputy Governor SK Sur Chowdhury, in a recent seminar, said: “A committee will be formed by next June, by coordinating with various public and private agencies. The committee will work to find out a way on how to introduce Bitcoin in Bangladesh.
Bitcoins can be used for online purchase like other normal currencies. But governments and central banks work through the general currency system.


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

Just like in Bangladesh, the Indonesian government also prohibits the use of bitcoin and other virtual currencies as a means of payment but they actually do not prohibit ownership of bitcoin.
And as far as I know that gives a circular in Bangladesh about the ban on the use of crypto instead of government but from the central bank.
I think it's natural if there is such a problem. Because in buying and selling bitcoin and banks do not get a profit.

yes, central bank issues notice banning Bitcoin in Bangladesh. These digital currencies are not authorised by any legal authority of any country and thereby no financial claims can be made against such currencies.

whether the news is true, or just a hoax .. ?? I think we need to trace the truth of the news, do not be used as a reference .. because not necessarily true ..

What I know, the first country to ban bitcoin is bangladesh. In September 2014, the Central Bank of Bangladesh released a statement that bitcoin is a currency that does not have a centralized payment system that is potentially harmful to society. The government of Bangladesh even gives a maximum sanction of 12 years in jail for the transactions bitcoin and other digital currencies.

It's true, being a small nation with a large population, Bangladesh has more than 100 Banks, so if people starts dealing with crypto currencies, Banks will go bankrupt. The current state of Bangladesh is not good, government regulations in dealing with business, not to mention people who have ties with the Government are making millions of dollars. Bangladesh is one of the most corrupt country in the world and Government wants to control everything. We are doomed.

This took place long back and the usage is still found over there in an illegal manner. There are cryptocurrency traders who hail to India and other neighboring countries to make use of bitcoin and people who caught using bitcoin were punished severely.

this kind of news is not necessarily true
if Bangladesh does banning bitcoin, it should be more viral than this
it seems that someone is trying to make a hoax news, for the sake of cunning

yes you right, this act can't give big impact to the existance of the bitcoin. I believe that bitcoin will grow and strong in the future.

I did not knew about this, I am not sure that it will affect the prices much. There must be very limited number of investors from that country in my opinion.

Actually I don't know about it because I only know that every country accepting bitcoin. Other country didn't accept bitcoin but they didn't banned it because they want only to put a tax on it and not to banned it.

Yes,this is true news bitcoin banned in the Bangladesh country. Basically some countries government want cost of the dollars. But did not given them bitcoin. Then their do not support them.but already lost of countries accept the bitcoin. I hope bitcoin will going to the over all the world.

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why did they do that? Its so sad for the bangladesh people that they cant use bitcoin because of that it so unfair

Bangladesh is a country that includes banning the world of cryptocurrency but not necessarily to debate because there are already some countries also banned bitcoin but to this day bitcoin is still in demand all the people in the world including me so any way every country bans bitcoin bitcoin will not die and bitcoin continues growing with global turnaround.

This is an old issue and I think they are hunting those people who are using bitcoin and other cryptocurrencies check the article here. But this act can't give big impact to the existence of the bitcoin. I believe that bitcoin will grow and strong in the future .If you are living in Bangladesh better to use a VPN to save your bitcoin or you can exchange it into perfect money and withdraw it in any 3rd party exchange from perfect money.

https://news.bitcoin.com/bangladesh-authorities-hunt-bitcoin-traders/

It's a recent development and there are many ways to counter that.

Not to be rude or anything but Bangladesh is a country who falls under the underdeveloped category, meaning that they value their resources more as it is scarce in the society. Anything that they feel that may infringe the security and rights kf individuals when it comes to payments, they prohibit it. With the case of bitcoin, since its volatile and decentralized nature makes it difficult for individuals for security. For Bangladesh, securing resources are more important than leaving anytbing that may harm the society.

There is no law at the moment in Bangladesh, which is barring the people from dealing into the cryptocurrencies. The government has just warned their citizen about the possible risk and also instructed authorities to track the crypto transactions. This is just to create fear among the people so that they will stay away from the cryptocurrencies and in order to maintain the importance of fiat currency.

Are you bangladesh people? that's true, bangladesh banned bitcoin.
If you see any news about bangladesh banning bitcoin this is very long news. I see in some information that banglades is the first country to ban bitcoin, precisely in 2014 ago. But there is no concern for you to use bitcoin even if you live in a country that forbids bitcoin, just like me. I live in a country that forbids bitcoin and till this day I am still comfortable using bitcoin.

I found a old thread, way back 2014 about Bangladesh stance on bitcoin.

(https://bitcointalk.org/index.php?topic=783949.0) - Bangladesh will jail Bitcoin traders?

And another one:

(https://bitcointalk.org/index.php?topic=2631617.0) - Bitcoin in Bangladesh

So this is a old news already. Anyways, as much as we want all nations to accept bitcoin, there will be someone on the opposite side. And the only one to be affected by it is the Bangladesh Bitcoin community. I don't know if it's still thriving on that nation, but the effect of this news has little to no impact at the price IMHO.

This is an old issue and the news was true. Long ago Bangladesh Central Bank Ban Bitcoin. You can also check out this link: https://www.dhakatribune.com/business/banks/2017/12/27/bangladesh-bank-ban-bitcoin/

where you can find out about ban Bitcoin Bangladesh.

yes, it is right because Bangladeshi government has certain rules about this purpose and bitcoin does not follow those rules.

long time ago Bangladesh Bank has issued a ban on Bitcoin.

They said that transactions like Bitcoin or Bitcoin or any other artificial currency are not recognized by any organization of Bangladesh Bank.

If anyone involved with this then it will be considered as a punishable offense under the Foreign Exchange Control Act, 1947 and Money Laundering Prevention Act, 2012.

The government in many countries prohibits turnover of cryptocurrency due to fear of transferring them to "dirty money" from which the state has nothing.

There is some people knew about that news because that is an old news and yes that is true. Bangladesh government banned bitcoin in their country. Yes there is many countries banned bitcoin maybe because the tax of it and government afraid of that. And there is some countries who accept bitcoin but there is rules of using it to avoid doing wrong or using illegal things.

i guess it does not really matter either way to btc

Yeah I read in news 1 year before.but I hope will be accepted bitcoin. Because bitcoin popularity increases day by day with the rocket speed.

if that's true, it adds a negative list of news to bitcoin that could be a bottleneck. But this does not make the popularity of bitcoin or cripto be reduced or exhausted ....

Bitcoin,a virtual crypto currency is not legal in Bangladesh.In September 2014,the bangladesh bank issued a statement regarding the use of bitcoin and warning that it is punishable by law.Bank officials said that anyone found guilty of dealing with bitcoin or any other crypto currency could be jailed for up to 12 years under current anti-money laundering laws.

They can't ban Bitcoin in your country as we know everyone can use VPN to hide or transaction or block our location and be on other countries' link, but in Bangladesh they are locating people who are into Bitcoin trading, since most of the people who has a dirty money is transforming them into Bitcoin.

May have to wait for a change of leader or election.
The Government has an influence on technological developments in a country.

Hahahah when Bangladesh government accept bitcoin, i don't know. Bangladeshi government can't control bitcoin because Bangladesh is poor country and its people will use paper currency. Maximum bangladeshi don't know what is Bitcoin?

unfortunately some countries are banning bitcoin

I can not agree with you, many people are familiar with Bitcoin today, for example, you are a Bangladeshi, as you know Bitcoin, and now there are so many people in the forum who have registered for the Bounty and are working, The government is discussing To bring blockchain Technology at different levels. Talks are being discussed, so of course, in future, Bitcoin must accept Bangladesh.

Yes, the government of Bangladesh banned the use of Bitcoin. This is especially good for all of us, especially for those who are Bangladeshi food news. This will greatly impact Bitcoin prices. I think the government has banned the country from stopping terrorism, crime, fraud and so forth. I think the government of Bangladesh will soon give legal validity to use it. Because it is very necessary for a developing country like Bangladesh.

Yes, bitcoin is declared as illegal in Bangladesh. This declaration is very much unfortunate for all Bangladeshi cryptos lovers. Even Government agencies are trying to trace bitcoin traders & dealers. So who are still works on bitcoin related matters, they are in danger now because it's illegal in Bangladesh. Hope the Government of Bangladesh will remove this declaration as soon as possible.

I've heard this news, and this news is true, Bangladesh apply the same rules on Bitcoin like my country, but do not we make this as frightened, because this will only benefit those who dislike or reject Bitcoin...

I also heard and read about that news and I am somehow upset about that because another country banned bitcoin. I hope that the banning of bitcoin will stop and I hope that they accept bitcoin because it can make their country healthier. I am worried in the people in Bangladesh who wants to invest their money in bitcoin.

although actually this news has been very long, in fact you are late to find out.
and remember, that only government banks are banning bitcoin in bangladesh does not mean bitcoin is banned as a whole in bangladesh.
do not overly magnify this problem. it will make things worse

It is true and there is a law in Bangladesh regarding any kind of e-transaction.But still there is a lot of users of bitcoin so I think it will not effect so much.

although the balngladesh government banned bitcoin but I think this is not a big problem, because the role of bangladesh in cryptocurrency is not great. so I think cryptocurrency will still run normally.

   I find it hard to understand these kinds of sanctions. Putting an obstacle in front of the digital money is ridiculous. If you put obstacles in front of digital money, you can never be a developed country. Because digital money is the trend of technology. You can not ignore it.
   The digital money can go to the edit path. But it is absurd to ban. You can not resist technology. Today, you will enter the tail tomorrow to get the technology you forbid and block. But you will lose your chance. Because other countries will already own this technology and they will sell you this technology for money...

Bangladesh isn't a major player in crypto world... Moreover it has strict foreign currency policy to defend money laundering ; so it is of no wonder that this country will support Bitcoin or any other crytpo..


However a lot of people are involved in trading bitcoin through external channels... It has little effect on bitcoin 🏂

thank you for your information, and although this is old news, but I become to know this news. and very useful.

but, I read there is no firm action from the government of Bangladesh for bitcoin users, meaning the government ban bangladesh only limited statement and threat only, and not in form of official regulation.

Yes, the government of Bangladesh banned bitcoin.Even for this, arrangements have been made in strict law..The use of the crypto currency has been declared illegal in Bangladesh.The Bangladesh government thinks the use of crypto currency will cause economic problems.I hope the government of Bangladesh will change this very soon.Because, bitcoin has responded very well to the world.Even its popularity is increasing day by day.

I haven't read the official notice about it yet but some news stories are reporting that police are hunting for the Bitcoin users in Bangladesh but things are still unclear. Well, if this is true then it is the worst thing that the government is doing with the people. If any country is calling itself a democratic country then there is should be the freedom to the citizens of using their money in the way they want. Bitcoin users are not criminals, they are not funding anti-national activities, they are just using it as a payment system. If anyone is using it for the illegal purpose then everyone including Bitcoin users community has no objection to punishment to such individuals/organizations.

Yes, it is true. should any negative news should not be exposed continuously. this situation only makes the panic and its impact for the price is very bad.

When my A Monahayat used Bitcoin to understand the advantage they did not ask a bank to deal with Bitcoin many countries crypto exchanges but they were not completely prohibited or using it. But after reading this news, I see that the crypt of Bangladesh is completely banned. Because Bitcoin can understand the benefits of trying to understand why. But after understanding the risks and procedures using Blocker technology, the government regularly starts formulating and people are allowed to use Bitcoin.

Yes, Central bank of Bangladesh has proposed a circular announcing that bitcoin transaction is restricted there. So far I think, Bangladesh has banned this in order to avoid corruption, drugs and arms business. I hope like other countries , bangladesh will make a policy regarding cryptos.And police arrest those involved in this kind of work.

another example of non functional ridiculous government being afraid of bitcoin when they probably don't even know what it is ,surely never used it. That will change in time though

I do not know this news is true or not, but if true I am not surprised, because after all many countries especially in asia do the same thing. such as a corrupt systematic and excessive fear.

Yes! It is true that the Bangladesh central bank warned the people not to trade bitcoin  and I think is an understanding between Bangladesh government and their Central Bank trying to fight against cryptocurency but I know with time all these will be over and the ban will be layed off hereby making bitcoin an acceptable means of trading in their country once they discovered they have been cut off from international investments and foreign trading due to the bitcoin rejection. Because every country has experienced more foreing trading in internet business ever since the existence of bitcoin. So bitcoin can not be cut off from foreign and international transactions.

I feel bad for the people from Bangladesh. I mean why are they being hunted for using bitcoins? They did nothing wrong just trying to make a living out of it. I just hope people will accept bitcoin because this is a good change.

It's absolutely true bangladesh government banned Bitcoin and crypto currency that is old news.Bangaldeshi online news cover about it https://www.dhakatribune.com/business/banks/2017/12/27/bangladesh-bank-ban-bitcoin/
also coindesk news https://www.coindesk.com/bangladesh-outlaw-bitcoin-jail/

As I know, the Bangladesh State has strictly forbidden the use of this digital currency and will imprison bitcoin enthusiasts who do bitcoin transactions as well as these bitcoin Users will be classified as violating the law under the Anti Money Laundering Act ...

Yes it is true, also they already began to look for Bitcoin traders. The trading of the popular virtual cryptocurrency is illegal in Bangladesh, but the trading and usage of this currency is still rampant – a fact that has riled Bangladesh Bank. Meanwhile, the government has warned people not to make any transactions with bitcoin. According to Bangladesh Bank, bitcoin is neither accepted nor considered legal tender anywhere in the world, and it is risky to use this currency. The trading of this currency might cause infringements of laws regarding money laundering or funding terrorism.

And it so much make the bitcoin negative.

I don't think it would have a major impact on crypto market changes, especially on bitcoin. the population of people involved in bangladesh for bitcoin is not so much when compared to in other asia. only possible impact will be felt on the local community of Bangladesh residents.

Yes the news is true, but in my opinion the development of bitcoin currencies will continue to advance in the world, the bitcoin ban in Bangladesh will not make bitcoin die.

I am not aware of this news personally but i have heard this from forum users. I think they are trying to ban transactions pertaining cryptocurrencies and all others dealing in crypto with foreign exchanges.They are hunting for such users and this is a common process globally.But i see still many people dealing in crypto globally either through VPN or by using internet.

In a statement the Central Bank of Bangladesh cited concerns over bitcoin’s lack of “a central payment system” which could lead to people being “financially harmed”. It invoked the provisions of the Foreign Currency Control Act of 1947 and the Money Laundering Control Act of 2012. Then, added that trading in bitcoin and other digital currencies could lead to a punishment of up to 12 years in prison.

“Bitcoin is not a legal tender of any country. Any transaction through Bitcoin or any other crypto-currency is a punishable offense,” the bank said in an official statement last September.

The ban comes as an enforcement of sections 4,5 and 8 of the 1947 law that regulate trading in foreign currency without authorization or general permission from the central bank. Section 5 severely restricts payments did outside Bangladesh, which affect bitcoin payments.

Yes!!Bitcoinn banned in bangladesh because Government of Bangladesh think that investing or trading in bitcoin in one kind of money laundaring.

Even facebook has its own currency, states can no longer continue their unreasonable attitude towards crypto currencies. Banning is too cold war action. They are just afraid of the change.

Seems like all government have pretty the same attitude towards bitcoin and other cryptocurrencies,bt we should always remember change will definately be resisted,especially with national government.its obvious the old financial systems will definately be disrupted by bitcoin,this is the reason more and more governments are not ready or willing to accept digital currencies.

I am always sad hearing those news, we will end up seeind a devided world, where half will accept bitcoin and some will ban it right away.

In September 2014, the Central Bank of Bangladesh released a statement that bitcoin is a currency that does not have a centralized payment system that is potentially harmful to society. The government of Bangladesh even gives a maximum sanction of 12 years in jail for those transacting bitcoin or other digital currency.

No they haven't banned bitcoin.It is not so easy to ban bitcoins.The bangladesh government has announced to their country people not to use cryptocurrency and to avoid trading on cryptocurrency.

I haven't heard of that. i think i am to far ahead about the strict implementation of crypto currency on countries like bangladesh. I hope it won't happen to the philippines.

is it true a rumors that Bangladesh government banned bitcoin now market of this digital ICO is going at their peak the must be regularize it and make laws thats not a way to banned some countries are legalize it i listen here making also atm of bitcoins,anyway the experts and departmental head knows batter what good for all.

Here is a reason: Governments, first thing they do is form a currency. They like to control the currency. They control it through the central bank. They also like to know who has it, where it is, where it’s going.

This can be worrying because of another banning issue of Bitcoin, but what we can do is to keep calm and accept the fact that each country has its own different view on what bitcoin is. We can't control the mindset of the people but we can keep our strong faith and trust that more will recognize it, maybe not for now but many will realize its real essence eventually if we continue to uphold its valuable aspects.

This is a sad fact, more and more countries are officially banned bitcoin, the main reason of Bangladesh country is certainly because of fear bitcoin used for illegal transactions, but if want to learn from a country that legalize bitcoin like japan then bitcoin can be useful to advance economy.

Here we go again with the banning session, haha if you are afraid weather you can use or trade Bitcoin in your country then Visit --Bitcoin discussion the go to the ----legal section, some laws and regulation posts are created their, I hope this can help you. (advice don't deal banks with crypto directly use some outlets to cash-in and cash-out).

These all Country are not banning but they are giving instructions to bank to give information to their bank account holders to not use bank transactions in cryptocurrency related and if found close the account of said users.

Transactions like Bitcoin or any other artificial currency are not recognized by any organization of Bangladesh Bank or Bangladesh Government. I think the  committee will work to find out a way on how to introduce Bitcoin in Bangladesh.

Yes, it's true Bangladesh has  banned cryto currency. Central bank of Bangladesh has proposed a circular announcing that bitcoin transaction is restricted there. But not just in bangladesh, many other countries are banning the crypto trade. Because the currency of the crypto could destroy the paper currency in the country.

I do some research and some other country banning bitcoin why? is it against the law or what? i dont understand why are they banning bitcoin from their country

What would have make them to banned bitcoin? I think what they should have done is to regulate it and adopt high taxation on cryptocurrency trader and investors

Yes, they did. I have seen a thread about this news. It is maybe Another bad news for bitcoin and other cryptocurrencies. We know Bangladesh is a very small country but I think they have lots of crypto enthusiast. Maybe the market will affect again   :'(

it has become a dilemma when Bitcoin began to exist in a country, and it was a consideration for the government to warn its people.

maybe next time in Bangladesh will make Exchange Bictoin and will not be banned again Bitcoin there.

Yes, I've heard about this. They warned their citizen to stop using bitcoin and they already informed their foreign exchange department about it and look for citizens that would disobey the law. The bangladesh central bank also warned financial institution against crypto users.

It sounds scary, well I think Bangladesh doesn't need to do that because they need to solve their economies problem,  well I'm not saying that the economy in my country was very good, but we're kinda in the same level, the society need to growth their income to fix the economys problems.

the news is true, maybe the government is afraid of its effects bitcoin, and if for me the bitcoin is even better, because the bitcoin can change everything so real.

But after reading that news it looks Bangladesh has completely banned the cryptos. Some time if country leaders are not technically strong then they can't understand the future use of new technologies until

it is true that since September 2014, the Central Bank of Bangladesh has released the statement that bitcoin is a currency that does not have a centralized payment system that is potentially harmful to society. The government of Bangladesh even gives a maximum sanction of 12 years in jail for those who transact bitcoin

Bangladesh government take strict action against those who are dealing with bitcoin.

The move by the government of Bangladesh to barn bitcoin and bitcoin-related operations are not in my words the wisest of actions or decision to make because the technology was designed to be decentralised and with that feature, most of their citizens will still be in their crypto world without their knowing

Yes I heard that news already and bangladesh government decided to avoid bitcoin as their currency and no transactions of btc will allow. That is why the government of bangladesh was so strict  to the people who are using bitcoin. Bitcoin is decentralized that's why they think that it is harmful to the society, so in that case bitcoin will be banned by the government of bangladesh.

The problem is their government wanted to have security for their people and they believe that Bitcoin is not safe that's why they implemented these rules, there's still a lots of discussions regarding to this chain and if ever that Bitcoin already been adopted to more bigger businesses online might have given a chance to be well understood and change this positions.

anyone knows where is the bangladesh? :D

my favourite country about ban things is China :) they can really effect market with the news.

this is a true news but they are still working on putting the end to the ban, though the government and the central bank of Bangladesh is not taking the issue likely. but lets just not allow this to disturb our transactions flow in the crypto market, because this is one of the challenges bitcoin will overcome soonest.

It is just that their bank has warned people to stay away from crypto. Banning bitcoins completely is impossible for any country.

Unless they ban internet, they cannot stop bitcoin transactions in the country. It is however sad to hear a developing country trying to go against crypto.

It is not banned exclusively but the government is taking regulations against bitcoin. Anyone caught doing transaction in bitcoin will be dealt with actions. Also their people are warned on investing and trading in cryptocurrencies especially bitcoin.

Bangladesh Bank has banned the use of Bitcoin, a virtual cryptocurrency, in Bangladesh by issuing a circular on its website. The circular read that Bitcoin is not an authorised and legal currency in any other country in the world. “Transaction with this currency may cause a violation of the existing money laundering and terrorist financing regulations,” the circular further read.

I think bangladesh has banned crypto currency. because central bank of bangladesh has proposed  a circular announcing that bitcoin transaction is restricted there. because not just in bangladesh, many other countries are banning the crypto trade.

Bangladesh has banned bitcoin since September 22, 2014, Bangladesh has also banned the use of Bitcoin on the grounds of avoiding money laundering.

Is the Bangladesh ban still in effect?

Bank of Thailand also banned Bitcoin back in 2013, but realized very quickly the futility of the action. (technically the law still exists, but is not enforced)
No government or bank can control Bitcoin.
Currently two crypto exchanges operate in Thailand and the banks allow money to be sent to the exchanges.
Of course that could all change in the heartbeat of one silly bureaucrat.

Sad to say that but it's true that Bangladesh banned btc. Cause the govt. afraid of money laundering and they think it may finance the terrorist. So they also think well for public.

Yes, the Government of Bangladesh has announced through their central bank that no one takes any transaction with Bitcoin. I think it is the expression of not having a good idea about the crypto currency of the respective authorities. Wherever everyone is thinking about the crypto market worldwide, i think the government of Bangladesh is stupid Introducing

Whether it is true or not, being banned does not mean you can not use bitcoin. Bitcoin is decentralized meaning it can still freely operate.

The Bangladesh government has taken a very bold decision. I think it is a wrong one. If it is a temporary ban, just to remove the negative aspects of Bitcoin, then i am in favour of it. I think they are trying to create a system of transparency.

No i don't know about that information but banning bitcoin is not a problem because you can cashout your bitcoin by exchange sites with low fee

I think it is a wrong one. If it is a temporary ban, just to remove the negative aspects of Bitcoin, then i am in favour of it. I think it is the expression of not having a good idea about the crypto currency of the respective authorities.

The Central Bank of Bangladesh has clearly stated that Bitcoin is banned for their country. Because they think this will increase the illegal activity in their country. Which is awful for their country. But I think this idea of the Bangladesh government is not correct.

Either it is true or not the trade volume of Bangladesh is nothing comparing to any developed countries. As far as I remember Bangladesh economy was even smaller than California's economical output...

That was a story of 2014,after certain scam was perceived and also the fear of the unknown.

I think that the government of Bangladesh has banned the crypto currency temporarily and once the government of this country is convinced that the crypto currency is not dangerous, they will legalize it again.

Like the ban on drugs, alcohol and the Internet, the Bitcoin ban is ridiculous and unreasonable. This is exactly the case for the following countries: Bangladesh, Bolivia, Ecuador and Nepal. As recently reported, Banglasesh government arrested almost all those involved in electronic money transfer.

This is bad news which is a bitcoin price factor difficult to rise, but I'm sure this is only temporary so it doesn't take long to rise again, hopefully the Bangladesh government will legalize bitcoin again.

i never heard about Bangladesh banned bitcoin in their country, if this happen i think bitcoin will lose their popularity being a digital currency, i hope this is a fake news because it will makes the bitcoin poppularity dropping and make the price is drop too

This may sound so negative about bitcoin, but they cannot stop the users of it, nor banned them completely because there are many ways on how to exchange them. Plus the fact that bitcoin and crypto are progressing and eventually they will lift up that ban and accept it.

I never heard about this , but its kinda sad to see this kind of news. But we know that they have valid reason why they do that. Maybe they just want to protect their people. Lets just accept it and dont break the law or rule.

crypto currencies just like Bitcoin , etherium , etc. are treated as threat  by many banker institutions . must of them countries like to maintain control over financial and  banking system of the country and the bitcoin does the opposite . Many countries are banned bitcoin including bangladesh after 2014 scandal with the strictly jail term. But in other laws , it's very difficult to execute in countries 

I think it's very stupid of them, let's remember that some countries initially refused to accept bitcoin and then after a while seeing the whole essence began to actively promote it and provide all support.

Yes, the central bank of bangladesh  banned bitcoin uses and warned people not to trade bitcoin and other cryptocurrencies. Bangladesh Bank declared that Bitcoin traders will be put into jail.

Bangladesh Bank warned but most of the traders are still trading and earning. They can not stop using bitcoin as government has no control over bitcoin transaction.Bitcoin is becoming popular every day.

After so many regulations and heavy monitoring, I do not think that crypto will remain lucrative for the investors. This is a clear example of the government failing to understand the concept , working and potential of crypto.


I personalty feel that the countries which are against crypto are doing loss for themselves.

Were you born yesterday? Bangladesh banned bitcoin in far 2013 if I remember exactly. Citizens of this country even may go to a jail for crypto activity. As I know they do not have plans which would be more welcome for now. But maybe their neighbor India may change the opinion of Bangladesh, I heard they began to make steps towards crypto currencies and their regulation.

The big question is going to be what kind of penalties or enforcement will actually go on. And whether they will try to detect and track people using Bitcoin. I don't know what kind of control the state there has over its internet, but it could be extensive.

I think the government of bangladesh has certain rules so they prohibit bitcoin,and I think they are just banning the banks using payments through bitcoin and not forbidding someone to join the bitcoin world, but I am sure slowly in the future banglades will start legalizing bitcoin ...

Nothing in this life is always accepted. Bangladesh central bank warned the people not to trade bitcoin and they will be taking strict actions who are dealing with crypto currencies.

I see no reason to do this. most likely the government just wants to earn bitcoin too, that's why it did

Yeah, this is indeed and it was in 2017 btc banned in bangladesh.
Bangladeshi news reference: https://www.dhakatribune.com/business/banks/2017/12/27/bangladesh-bank-ban-bitcoin/
CCN news reference: https://www.ccn.com/in-depth-bangladesh-bans-bitcoin/

Bitcoin banning LAW is effective from 2017 and it has been created by Central Bank. This is not sure in the near future it will legalization.

Although Bitcoin may be called the world's first global currency, however, in some countries, including Bangladesh, its use is still banned by the government. It is because the "look" isn't open from the government will make the economy in those countries difficult.

Small countries like Bangladesh have serious problems with crypto, which is why Bangladesh chose to ban it, I would not be surprised to ban the occurrence in small and poor countries. there are many factors that are important points in the ban. maybe you can look for more detailed reading about it. but the difference for developed countries is clear, just look at Europe which can involve crypto and bitcoin.

I think Bangladesh has its own rules that make the country ban bitcoin, there are secrets in every country why the state bans bitcoin, so maybe it's the best choice for Bangladesh to ban bitcoin.

The general idea of ​​Bitcoin and cryptocurrencies was that the whole world has access and no one is dependent on the banks or the government. It was a way of giving people some freedom. If Bangladesh decides to ban bitcoin I find it very sad for the people who remain dependent on the state. We must help everyone in the world to have access to cryptos so that the revolution is global.

Bangladesh Bank has banned the use of Bitcoin, a virtual cryptocurrency, in Bangladesh by issuing a circular on its website.
The circular read that Bitcoin is not an authorised and legal currency in any other country in the world.
“Transaction with this currency may cause a violation of the existing money laundering and terrorist financing regulations,” the circular further read.
However, the notice does not carry any indication on how the regulation would be enforced.
The circular also said Bitcoin is not authorised by any regulatory authority and thereby its use may cause financial loss of the citizens.

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Yes, exactly, the government of Bangladesh has banned the cryptocurrency. Their government had been consistently taking major actions against cryptocurrency. And finally, they officially announced it the use of cryptcurrecy is not legal in the country.

This problem haven't finished yet? I read a news about that like 5-6 months ago "Police on the hunt for bitcoin users in Bangladesh" (Link:https://www.dhakatribune.com/bangladesh/crime/2018/02/19/police-hunt-bitcoin-users-bangladesh/) and that was very hard to read. How could police hunts people just because about the bitcoin?.. I think the rules are very strict there in Bangladesh. I am happy in my counrty we have nothing like this one..

if it is true that there must be a strong enough reason from the government in the country to make the prohibition, the development of cryptocurrencies will be more advanced someday if the cryptocurrency has been inaugurated by all countries, the prohibition will soon be eliminated

Bangladesh governments banned bitcoin because bangladeshi governments have no control power on bitcoin, but i don't hear about, when bangladeshi government permit bitcoin???

Although the news was old but we can't blame them for the banned they placed on bitcoin did to the level of cryptocurrencies high traffic which lead to a huge cryptocurrency scamming last year and the government are yet to have much understanding about bitcoin. However, the ban ought to be lifted before the end of this year.

Just like what happened to China before when it banned bitcoin, the cryptoworld recovers quickly despite the fact that China is Asia's largest bitcoin holders during that time. I am also confident that with Bangladesh decision to ban bitcoin, could not affect bitcoin's progress and that bitcoin will also recover from it quickly.

I'm not surprised to read that a country prohibits the use of bitcoin in its country, with the aim of protecting its citizens from heavy losses because bitcoin has large fluctuations, in addition to avoiding illegal and criminal cases, due to anonymous bitcoin ownership.

Just wait for the need flood and they ask for international aid. If offers are made in bitcoin i bet the law will be changed very quickly.

It would be too hard to do a blanket ban on Bitcoin because too many people have access to means in order to purchase or sell it and I believe Bitcoin is way too BIG now to ban and many governments and big banks now will be using the blockchain technology to improve their services, so if Bangladesh decides to stay behind, as a country it will lose out a lot in the new innovative technology that is driving this 4th Industrial revolution. I am hopeful that they will become less strict but money laundering and tax evasion is always an issue, thus they are being cautious I guess until they can fully regulate Cryptocurrency and Bitcoin.

Well, most people in bangladesh are poor in their economy, most of them are ignorant without the knowledge of the benefits of blockchain techonogy so its government does not accept bitcoin. They do not know exactly, bitcoin is a digital currency that highlights all the benefits.

Nothing effect if Bangladesh government banned bitcoin because member bitcoin is not come from bangladesh, we are really afraid when we found great and higher country like Japan, South Korea and Indonesia have banned using bitcoin transaction for their people.

It seems that there is no effect with the development of bitcoin on the news, and until now Bitcoin still continues to expand and even expand. The Bangladesh government has not been able to accept bitcoin because technology and thought that is not able to control the development of the times, and the free market cannot be applied by them. But there is no need to be discouraged, this will definitely improve and will accept it. Waiting for time, surely they will realize the benefits of bitcoin and internet technology.

when I see news like this I just think some countries government are selfish and do not want to see there citizen successful. A poor country like bangladesh with low standard of living is still banning cryptocurrency which has put a smile on peoples faces. This might dash the hope of people getting money to feed their family. Ones they start strict regulation mostly on local exchangers, it will very difficult to trade crypto even if you are using vpn because most people will probably sell their coin for fiat.

The ban on the use of crypto or bitcoin currencies carried out by the Bangladesh government will not have an impact on the continuity of bitcoin, I see that only a small percentage of the population of Bangladesh uses bitcoin, and is not part of a large country which when the government prohibits the use of bitcoin, will be able to give an impact negative for bitcoin. Over time, there will also be a change of government, my hope that later when there is a new government in Bangladesh, the government will support the use of crypto or bitcoin currencies in Bangladesh.

They are not actually totally banning bitcoin but only limiting their people to use it because of the hacking and other improper use of bitcoin. Bangladesh is on of the 3rd world country where bitcoin might help them to improve their status but sad to know that there are people using it to outweigh or scam others.

It is a pity that the government of Bangladesh does not see the positive sides of bitcoin and decided to ban it. I do not think that is appropriate, given the rapid pace of development in the world. I hope that over time the authorities will change their decision to a positive one.

It is a pity that the government of this country acts according to its incomprehensible logic, banning cryptocurrency. I do not think that this poses any threat to the country's economy. The authorities are simply afraid of the new, unexplored technology and are too conservative to allow this technology to develop.

Most emerging country still afraid on bitcoin and cryptocurrency. If they adapting bitcoin system and allowing their cryptocurrency payment in their country, i am believe it will rise their economic. Tourist will come more and people get an opportunity make extra income in this market

This is concluded in which Bangladesh really banned the use of Bitcoin and other crypto currencies in the country. We can't blame this country if they are too blind to see the benefits of adapting Bitcoin. Hopefully they will change their stand in the future specially if the countries who supported Bitcoin are enjoying prosperity. https://www.thedailystar.net/law-our-rights/law-analysis/bitcoin-legality-in-bangladesh-bank-1602583

I don't think that we have some facts to back up your claim because bitcoin or crypto is still very young and only few countries have adopted it so we don't have a sample data to really conclude that it will help the economic or financial status of any countries.

Yeah, it's a very shocking incident for all the crypto dealers. Bangladesh government should good use of its huge population by granting bitcoin transaction which can lead to developing its economy level but Alas! They banned it, instead of accepting bitcoin.

This is now an old issue and heard police arrested some bitcoin holder wherever they find people exchanging bitcoin.But people are still using and exchanging bitcoin,people just need to be careful,otherwise no worries!!

yes,Bangladesh government banned bitcoin & if anyone use bitcoin then he will be arrested by police. but still many young people's used bitcoin so hidely. day by day bitcoin hyip in Bangladesh is too much good. I think government  change the rules for bitcoin users
thanks

Many governments are afraid of cryptocurrencies and prohibit them because they know they are losing monetary control, however, these restrictions are temporary, because in the end, cryptocurrencies will replace conventional money.

Its another sad news for me. Bangladesh banned bitcoin and the government has a regulation about it. According to what I read, they have a law that if they knew someone who uses bitcoin they will hunt it and put it on jail. Well, that is their regulation and we are not allowed yo break it unless we want to go on jail. Let's respect their decision and continue to promote the positive effect of bitcoin despite of this things.

While some countries are inclined to stay in and create the best conditions for bitcoin activities, there are those who are trying to limit bitcon activity.

It's a bad news, but it seems we are so accustomed to a country banning bitcoin, which is inevitable as it depends on the governments of each country.

Bangladesh is a small country. This country many people live in.Bitcoin is large crypto currency. This country government isn't thinking positive side from bitcoin.This Government thinkking always negative. So I there for Bangladesh government banned bitcoin.Bitcoin earning is exter income for our.This coin use from my life devolop. Many people Vpn use from bitcoin earning from Bangladesh. Bangladesh government banned bitcoin but This user many people from Bangladesh.

yes I've read about banning Bitcoin in that country (Bangladesh). what I know is that the ban has been in effect since September 22, 2014, the government has banned this with a variety of reasons, including, they want their country to avoid money laundering practices, and they consider bitcoin to be used in money laundering practices.
unfortunately I don't know whether or not Bitcoin is currently accessible or not in Bangladesh?

Nearly the average country in Asia prohibits crypto, especially poor and corrupt countries
there are many factors that clearly the central government interferes with the ban. this happened also in my country even though at this time it was still not legal or illegal. I think that is definitely not a factor of causes such as drug trafficking, terrorist funding, bubbles. a clear and a system of corruption

Even facebook has its own currency, states can no longer continue their unreasonable attitude towards crypto currencies. Banning is too cold war action. They are just afraid of the change.

I haven't heard about this but I think that there are certain reasons to do so. However, in the future, I am sure that most governments will accept btc and will approve its use

Its an old news and just like what happened in India. They just warned their citizens that cryptocurrency is dangerous type of investment. Yes! It is a harmful to those people who just entering this industry and putting money wuthout acquiring knowledges. They just want to gain profits.

Well, not every county will definitely going to go ahead with cryptocurrency. Bangladesh being a 3rd wook county, they could not be able as well to facilitate the blockchain system. Most probably in the future they will going to faciliate cryptocurrency once they saw the benefit on others countries.

I think that the government of Bangladesh has banned the bitcoin temporarily and once the government of this country is convinced that the bitcoin is not dangerous, I am sure slowly in the future Bangladesh will start legalizing bitcoin.

From what I know is that, if they continue having these currencies there will be a high chance of terrorist groups getting fund from cryptocurrency.

Bangladesh Banned Bitcoin [BBB] because
1. No rules formed to Regulated CryptoCurrency.
2. Bangladesh Currency may loose value in front of USD.
3. To avoid Black money getting out of Country.
4. To make sure there is no outside illegal Money entering
     Country.
Further Bangladesh should not note that, they are throwing their Blockchain Developers under it's wheels instead of creating friendly environment for Developers.

In India same situation persists so some Blockchain Developers have already moved out of India, which is a major setback for Indian Crypto community.

yes, they banned Bitcoin, just googled with your keyword and got this one
https://www.dhakatribune.com/business/banks/2017/12/27/bangladesh-bank-ban-bitcoin/

BD Gov let People stop using bitcoin, and if Authorities Caught anybody with prof,  they will hunt them to custody.   

This is true  . When the central bank of Bangladesh is banning electronic money. But this is not new at all. Bitcoins have evolved over many stages as many countries have forbidden it. But that does not affect the development and existence of bitcoin. So do not worry too much about this news.

No matter what happens though not good news but still bitcoin will continue to grow and i still know those in Bangladesh that still use bitcoin. I hope the governement will revise their decision on crypto.

Yes Bangladeshi governments can't control bitcoins because in Bangladesh political influence is badly effects on banking and others cryptocurrencies.bank and governments full opposite of bitcoin.

so whatever government says is cannon fodder.

People since ancient times were afraid of all unexplored and unclear and not to us to judge the state though in the world there has to be a democracy. Maybe I'm wrong but my opinion is that bitcoin should be legalized as it is decentralized and people will use it !

Yes,  Bangladesh government banned bitcoin. The central bank of Bangladesh has ordered not to transaction bitcoin if someone does that then he would be punished badly. So itis a very inconvenience and occurred situation for Bangladeshi crypto users. But still, people doing crypto business hiddenly.

i have not heard such news and i sincerely hope it is not true because it will surely have a negative effect on the price of bitcoin and affect the market too. well i will try and make a research and find out how true this is.

Yes, its true Bangladesh government banned Bitcoin, Before this announcement, Bangladesh has a quite small number of investors, now Bitcoin investor increasing widely so don't worry about this I am sure very soon we see a large community supporting Bitcoin from Bangladesh ;D

This is no surprise, as many countries have banned people from using Bitcoin because Bitcoin operates separately. They can not control it, and in my country the government also bans exchange activities. dealing with Bitcoin. I always expect the government to change and allow Bitcoin to be legal.

I saw something like that and it is really pathetic for the bitcoin market. I sincerely hope and do believe Bangladesh government will have a review on this issue and allow bitcoin again.

Yes old news about Bitcoin banned in Bangladesh country,and many countries bank do not accept yet Bitcoin market.i think my opinion their are have low member with the Cryptocurrency market then this country's government do not try it.but few development countries already accepted in the Cryptocurrency world and with the Bitcoin.

just googled your title and found it on the first result, it's a 2017 news
https://www.dhakatribune.com/business/banks/2017/12/27/bangladesh-bank-ban-bitcoin/

We all have choices to make..maybe they weren't properly informed about the advantages of Bitcoin.
Hopefully they will lift the ban in the near future.

I think it's very unfortunate if Bangladesh bans bitcoin because in my opinion bitcoin is very profitable and makes the payment process easier. But I believe there are strong reasons why Bangladesh has banned the bitcoin.

Is it true? is it because of this that the price of bitcoin is currently down, but it seems not only because of that because there have been issues like this before but did not make it drop as it is today. if in my opinion the current price drops not only because it's just like there is something else too.

Now it is not a news for us we heard it several times that country government banned crypto and bitcoin is non stop currency no one can deny it but it takes time to realize to them the actual value of it and Bangladesh is not a developed country which can affect bitcoin is a bad manner but a small effect will come with this news that one more is against of bitcoin.

I think he missed to add reference. Bangladesh banned bitcoin this is absolutely true news because i have authentic reference in many international news here https://www.dhakatribune.com/business/banks/2017/12/27/bangladesh-bank-ban-bitcoin/

Whether true or not only the people will suffer what their government  has to implement most especially laws against Bitcoin or cryptocurrency in general. In case of Bangladesh I think this is not new here just like China and any other Asian nations that has strong rules or move against it. I am very happy though I am living country is cryptocurrency friendly so far so good like trading Bitcoins and  other crypto's.

In Bangladesh bitcoin isn't permitted by government because Bangladeshi governments always busy at dirty politics. So they don't target at bitcoin and mainly they can't control bitcoin at all.

yes, if there is no problem in Bangladesh, it doesn't matter if Bitcoin needs in developed countries like Japan and China

Well you should do the research in fact if i were a moderator of this section I will going to delete your thread because it has non sense when you try to understand your posts. Probably you can ask a formal question by starting a thread but it should be like having some few words on it that will going to expound the idea on why you had started the thread. Anyway, bitcoin is not yet totally adapted and there are many problems for now being encountered legally with BTC system.

I think that the government of Bangladesh has banned the crypto currency temporarily and once the government of this country is convinced that the crypto currency is not dangerous, they will legalize it again.

Such events often occur in the Asian region, namely the government continues to monitor the progress of crypto trading and investment. at that time there must be certain regulations, will crypto be banned or will get more support.

but whatever the total users of bitcoin in Bangladesh is little or a lot. this rule or ban will definitely have an influence on bitcoin as a whole. because of course the level of trust in bitcoin will decrease because of that.

If the news is authentic it means Bangladeshi bitcoin users will face a lot of troubles to the transaction of bitcoin. Even I think it will reduce the investors of bitcoin and who intend to be the newcomer they will be disinterested to enter into the crypto market. Whatever it is bitcoin lovers find another way to use bitcoin no doubt.

I ignored it because it did not have a big influence on the market, but in response to the news I was not surprised. Countries with the concept of religion are very difficult to accept banking technology such as crypto. they have complicated and strict laws.

I don't think you got this news from a reliable source because it's a actually a fake news it just that Bangladesh government are looking into the issue