Bangladesh government banned bitcoin ?

[emath7]

   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...

[Tarek4080]

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 🏂

[badakjawa]

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.

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.

[ashahin7799]

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.

[Dudeperfect]

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.

[moynul2050]

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

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.

[israfil]

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.

[Emran4567]

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.

[xanaxxx]

Anyone knew about that

Is it true news

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

[asus09]

Anyone knew about that

Is it true news

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.

[Jossy111]

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.

[bountygram.io]

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.

[Gunawan82]

Anyone knew about that

Is it true news

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/

[aray80]

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 ...

[AliMan]

Anyone knew about that

Is it true news

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.

[Denies]

Anyone knew about that

Is it true news

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.

[bahula33]

Anyone knew about that

Is it true news

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.

[chidrawarster]

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.

[ParveZ219]

Anyone knew about that

Is it true news

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.

[ruhel khan]

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