Very Very sad because I am from Bangladesh bitcoin illegal but I Love Bitcoin
On December 24, 2017, the Central Bank of Bangladesh issued a cautionary notice that
cryptocurrencies are illegal in Bangladesh. According to a news report, the notice states that
“[t]ransaction [sic] with this currency may cause a violation of the existing money laundering and
terrorist financing regulations.” The notice states that bitcoin transactions “are not authorized
by the Bangladesh Bank or any regulatory agencies, and do not conform with the provisions under
the Foreign Exchange Regulation Act, 1947; Anti-Terrorism Act, 2009; and the Money
Laundering Prevention Act, 2012.” Also, according to the notice,
- nline transaction [sic] of virtual currencies with any unnamed or pseudo named parties
may cause a violation of the above-mentioned acts. . . . .[T]ransactions through online
networks involving cryptocurrency are not approved by any central payment system and
as such people can be financially harmed and may face legal consequences.
Under the circumstances, the citizens have been asked to refrain from performing,
assisting, and advertising all kind of transactions through virtual currencies like Bitcoin to
avoid financial and legal damages.
Law enforcement agencies, including the Foreign Exchange Police Department, Bangladesh
Financial Intelligence Unit (BFIU), and Bangladesh Telecommunication Regulatory Commission
(BTRC), have reportedly already held four meetings on “hunting down those
using cryptocurrencies.”
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