Bitcoin Bangladesh

[absshamim]

In fact, I am trying to find out about Bitcoin, I do not know much about Bitcoin, I have opened a Coinbase account and started several Bitcoin transactions with a client there, Its quantity is very small.

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[Kemarit]

In fact, I am trying to find out about Bitcoin, I do not know much about Bitcoin, I have opened a Coinbase account and started several Bitcoin transactions with a client there, Its quantity is very small.

Ok. I thought that you have been in the crypto market for so long that's you you complain about Bangladesh hard stance on Bitcoin. Certainly, you can start small, I also advise you read their ToS very carefully specially that you have just started. Again, just a word of caution, you don't want to be caught by your government so just be very careful though.

[Schirer]

How this is some kind of news or something worth making new thread for?

It seem shat OP lives in the region, started to research the topic and found this information and was so shook up that decide he had to write it here.
I think it would be more appropriate to write it in the local board.

[jrrsparkles]

How this is some kind of news or something worth making new thread for?

It seem shat OP lives in the region, started to research the topic and found this information and was so shook up that decide he had to write it here.
I think it would be more appropriate to write it in the local board.

I don't think there is any specific local board for country bangladesh and also the post is in english so nothing wrong with posting it here but he should understand what is crypto and legal status means since he ask banks to support cryptos even their banks banned it.

[legendster]

How this is some kind of news or something worth making new thread for?

It seem shat OP lives in the region, started to research the topic and found this information and was so shook up that decide he had to write it here.
I think it would be more appropriate to write it in the local board.

I don't think there is any specific local board for country bangladesh and also the post is in english so nothing wrong with posting it here but he should understand what is crypto and legal status means since he ask banks to support cryptos even their banks banned it.

There is this thread I create a while ago that was dedicated to Bengali users :
https://bitcointalk.org/index.php?topic=230161.0

Bangladeshi people have interacted here as well.

There's more bengali people in the 2 states of India, West Bengal and Tripura than the entire country of Bangladesh.

So all kinds of bengali people from these 2 nations have been dealing in crypto whether or not BD govt likes it or not.

And then there is this other thread that was created and pinned a while ago by some other dude : https://bitcointalk.org/index.php?topic=631891.0

That is for BD people alone it seems.

[marcbitcoins]

What is the reason if why they banned Crypto in your country? Or maybe your government is just too blind to see the huge benefits of adopting Bitcoin as an investment and the blockchain technology itself to support their system. Hopefully, they will reconsider their decision and will open their mind that there are lot of countries that are now in prosperity because of Bitcoin currency.

[teosanru]

Bitcoin transactions were declared illegal by Bangladesh Bank in 2014. According to them, "The transactions in these currencies are not authorized by the Bangladesh Bank or any other regulatory body, so the use of these virtual currencies is not supported by the Foreign Exchange Control Act, 1947; Anti-Terrorism Act, 2009 and Money Laundering Prevention Act, 2012".

Let me tell you the basics. Bangladesh is not a developed country and was not even a pretty strong growing economy until this decade. The bangladesh Bank want to practice what most of the non developed nations do which is to completely control the flow of money in the economy so that No major inflows in the economy take place which can easily inflate or deflate it's tender economy. Moreover, developed countries see Indian subcontinent as a Service outsourcing station however with Increase in wage level India is no more lucrative to them but Bangladesh is. So most of the tech centers are now being established there and all what the Bangladeshi Governments wants is that this industry should benefit them through flow of foreign exchange and not with some virtual currency.

[nrnahid]

This is nothing new to me, However, in line with the world, why are banks in Bangladesh not supporting this? PayPal does not have Bangladesh , so there must be something. The people we deal with online are somehow being interrupted and banks are not coming to us. We are selling money to each other but the banks not cooperating. Many are talking about the dollar exchange from us but they are not returning it later, They are somehow hidden from us. There they are doing us great harm. However, their views are different.

[jrrsparkles]

This is nothing new to me, However, in line with the world, why are banks in Bangladesh not supporting this? PayPal does not have Bangladesh , so there must be something. The people we deal with online are somehow being interrupted and banks are not coming to us. We are selling money to each other but the banks not cooperating. Many are talking about the dollar exchange from us but they are not returning it later, They are somehow hidden from us. There they are doing us great harm. However, their views are different.

If you are from that country then you need to follow the laws whatever they say you need to follow because you elected the leaders.And your are complecate crypto ban things and paypal which is nothing related even paypal banned crypto related transactions.So reason why your country banned crypto is they thing it will create instability to their fiat value or will increase criminal offence.

[judeafante]

What's new? As you have said, they have been anti-bitcoin since 2014. So why would everyone be surprised by this news? They have a harsher penalty as well, jail time. So if you are from Bangladesh, you know that consequences of your action. And to give you a hint:

(https://www.dhakatribune.com/bangladesh/crime/2018/02/19/police-hunt-bitcoin-users-bangladesh/)

Are they still on it, it's very unfortunate, Bangladeshi are one of the best IT experts, and many of our friends there are Crypto followers, Countries like this are not open to technology like Bitcoin, they have to look at countries that successfully integrate Cryptocurency to their system, I'm glad I'm on a country that fully embrace Crypto currency and blockchain it's a big help for people like me and to our government as well as they make revenue from exchanges here.