First Time in Bangladesh

[oleg681010]

For countries such as Bangladesh, the cryptocurrency may be the salvation.

[Baby Dragon]

It's about the blockchain technology itself not cryptocurrency is what they are interested about. They knew blockchain can help them for banking solutions. Even China promotes the use of this technology. I think they are going to create their new blockchain. But no news about removing ban of the country. Hope the government will unban the use of cryptocurrency there. So people will enjoy the benefits of cryptocurrency. Hope they make a big announcement soon.

Lets just stay optimistic regarding on that since they are the only person who can decide for crypto's future in their country, maybe someday they will realize the possible benefits and opportunities that they might get from it. Governments are clever and I know that they will understand how cryptocurrency works and how it can help their economy, they should be thinking about it because it can help their people as well as their country.

[michellee]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

At least, that is good news for people in Bangladesh. They only need to wait for the confirmation that bitcoin is accepted. I think the government is already seeing the benefits of cryptocurrency for their people, so they are working to legalize blockchain technology. The bank will also support the government if the government wants to make crypto legal. After cryptocurrency becomes legal, I think people don't have to worry about using bitcoin, and they can report if there is an illegal activity for using bitcoin to the government. Maybe you can report your case to them. Who knows, they can help you to arrest the person who scammed you.

[Shenzou]

It is good to see that more and more countries are moving toward the digitization and adapting to the new area, and i feel like that bitcoin has played a big role in promoting and showing that the blockchain technology is a new and revolutionary system that has the potential to change and improve upon many aspects of our lives, even though that this is not a big deal or doesn't have any influence on bitcoin, because as some people mistaken blockchain is not bitcoin, it is still opens up a lot of new windows for crypto related and no crypto projects.

[DabsPoorVersion]

This was only focused on blockchain technology, maybe this is because of the adaption of China. After stating that they will adopt blockchain technology, no wonder that there are more other countries will do the same. It won't give any effect to the price of bitcoin, but it is still considered to be good news for the crypto world.

[iamaruf]

Sorry about your loss mate but most of us have also been scammed before. Also, if you still have evidence about these guys scamming you then i think you can take them on once cryptocurrencies is approved in your country.

It will be hard because our country law is not strict for people.If you have enough money then police will work for you.I just lost all hope.

At least, that is good news for people in Bangladesh. They only need to wait for the confirmation that bitcoin is accepted. I think the government is already seeing the benefits of cryptocurrency for their people, so they are working to legalize blockchain technology. The bank will also support the government if the government wants to make crypto legal. After cryptocurrency becomes legal, I think people don't have to worry about using bitcoin, and they can report if there is an illegal activity for using bitcoin to the government. Maybe you can report your case to them. Who knows, they can help you to arrest the person who scammed you.

Yeah this is good news for Bangladeshi people.Also people will know about blockchain technology.I can not report my case and I already told it.But If government accept bitcoin then it will be easier for us,to cash out my btc to bank.also who arrested for using btc their case will be closed.Also have a plan to open a market in our area where we will sell product for btc

[pawanjain]

This ia nothing beneficial to the bitcoin. Using blockchain technology has nothing to do with bitcoin. Blockchain is just a technology. Many banks or others will use it sooner or later but legalism of bitcoin is something else. I don't know much about the cryptocurrency laws on bitcoin, but in general, it seems suncontinental people are having worse time with bitcoin.

Yup, because same is the case with India. India is not accepting bitcoin or any crypto as a legal tender but is using the blockchain technology.
I do agree to some extent that using the blockchain tech does not necessarily mean that they will be accepting crypto but it does paves a way for them towards using cryptocurrencies because there were rumours that India government will be launching it's own coin for payments. Though I don't believe this is true, but I believe that using blockchain tech paves a way towards cryptocurrencies.

[airdnasxela]

Blockchain technology is wide enough to be used in different sectors not only bitcoin. Yes they are related but blockchain does not mean bitcoin or crypto. Let's expect for more governments in the future to realize blockchain but not bitcoin. Most government are in denial or don't agree with cryptocurrency so it's hard to expect from them good comments about crypto.
Goodluck on how they'll decide on crypto. But I'm glad that my country ain't that strict with crypto

[iamaruf]

Bangladesh will NEVER legalize Bitcoin or any other cryptocurrency! MARK.MY.WORD.
(if you're smart enough you'll understand why. hint: paypal)

Yes, I can understand what you meant. But bitcoin is decentralised and paypal is centralised. Paypal had many agreement that Bangladesh couldn't fulfil properly .To accept bitcoin there is no agreement. If government want then they can legal bitcoin anytime.         

[Chrystora123]

snip..

I think this is the effect of the statement the president of China yesterday.

This ia nothing beneficial to the bitcoin. Using blockchain technology has nothing to do with bitcoin. Blockchain is just a technology. Many banks or others will use it sooner or later but legalism of bitcoin is something else. I don't know much about the cryptocurrency laws on bitcoin, but in general, it seems suncontinental people are having worse time with bitcoin.

right..  Blockchain technology is not only related to cryptocurrencies (Bitcoin, Ethereum, Litecoin, and others).  currently, the range of blockchain technology is very broad.  You can see a little explanation HERE

[coin-investor]

On the other hand, I heard few Ministers (of Bangladesh) are holding around 100BTC (per head). And, they are very bullish on BTC.

I'm not from Bangladesh but if this is true then you have something to cheer up, these ministers will find a way to legalize Bitcoin, they can lobby to make it legalize and regulated, this is one way to change any country's view about Bitcoin, vote people who are supporters and holders  of Bitcoin and educate these politicians about Bitcoin and the number of people believing in Bitcoin in one's country, if they see the number you can make a lobby, when it comes to politics, it's a number game. 

[Oceat]

For countries such as Bangladesh, the cryptocurrency may be the salvation.

You don't know anything yet since they were just talking about the blockchain technology and concept of accepting/legalising Bitcoin in their country. We don't know yet if they are willing to accept cryptocurrency to make a change but if they do, then that's a good news. Not every country would do the same just like what they did, although this is just my opinion but I might be true.

[teosanru]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

I think legalizing currency over blockchain and legalizing blockchain are two separate things altogether. Bangladesh is a growing nation which obviously doesn't wants money leakages in its Economy happening due to this technology. So which is why they might legalize blockchain because of it's advantages but I highly doubt that Bitcoin could be legal anytime soon.

[iamaruf]

On the other hand, I heard few Ministers (of Bangladesh) are holding around 100BTC (per head). And, they are very bullish on BTC.

I'm not from Bangladesh but if this is true then you have something to cheer up, these ministers will find a way to legalize Bitcoin, they can lobby to make it legalize and regulated, this is one way to change any country's view about Bitcoin, vote people who are supporters and holders  of Bitcoin and educate these politicians about Bitcoin and the number of people believing in Bitcoin in one's country, if they see the number you can make a lobby, when it comes to politics, it's a number game. 

Ministers holding bitcoin and they are not talking about bitcoin. Even i saw a video there,they are Against bitcoin.Only few technology lover/blockchain users told that bitcoin should legal in Bangladesh.I don't what will they do in future. But hope they legal bitcoin.using bitcoin or other crypto currency is risky. You guys will laugh after hearing this. In this law they said that you can sell your $ (payoneer,skrill,nettler etc not crypto) from bank but you can't buy it from bank or any resellers.if you do and Govt catch you then they will write a case that you are involved in money laundering. Actually buying any kind of online dollar in our country Against law.but we need $ to hire freelancer or buy any products,services.           

[zhekinsp]

Blockchain =/= Bitcoin.

If they stated they are going to make it legal then they even don't know what is that,there is no need of legality from government to use it.

Blockchain is the technology where coins like Ethereum and Bitcoin are able to be created, Bitcoin was the first coin based on this blockchain technology that got big, but it's disliked by governments due to it being hard to control since it's decentralized.

But, however, blockchain technology is loved between governments and a lot of them are starting to build blockchain based ecosystems where a lot of their services would be using this new tech.

They are still able to ban Bitcoin, and now allow useage of it, just people are able to circumvent this fairly easily.

AFAIK,there is complete ban on crypto usage in Bangladesh so OP mentioned the topic only related to blockchain technology for that there is no legality needed anyone can create their blockchain and use it for any purpose if they want.

[malekbaba]

On the other hand, I heard few Ministers (of Bangladesh) are holding around 100BTC (per head). And, they are very bullish on BTC.

It is indeed awesome news for Bangladeshi crypto lovers. If ministers or other elite class/ important people wants BTC to be approved in BD, we can expect something very positive soon. However, Trading btc was considered as punishable offence in Bangladesh and yet people cant use btc fearlessly. On 2016, there was workshop in reputable institution and the speaker showed positive response toward blockchain and BTC.

[robelneo]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

Bangladesh cannot escape the domino effect on Bitcoin, big countries have eased up on Bitcoin, and they don't want to be the last one to do that, because of no country with the exception of North Korea, cannot ignore the technology behind Bitcoin.
they will have to accept that the world is now adopting Bitcoin, and it's safe to adopt because it is not against any nationality, religion or philosophy.

[Whittiesense]

This ia nothing beneficial to the bitcoin. Using blockchain technology has nothing to do with bitcoin. Blockchain is just a technology. Many banks or others will use it sooner or later but legalism of bitcoin is something else. I don't know much about the cryptocurrency laws on bitcoin, but in general, it seems suncontinental people are having worse time with bitcoin.

Exactly. I was going to ask if he's referring to use of the technology (Blockchain) or the use of crypto (Bitcoin). Banks will definitely adopt this technology. Some are currently working on their blockchain. Eventually one way or the other they will definitely adopt the use of bitcoin and other cryptocurrency.

[iamaruf]

This ia nothing beneficial to the bitcoin. Using blockchain technology has nothing to do with bitcoin. Blockchain is just a technology. Many banks or others will use it sooner or later but legalism of bitcoin is something else. I don't know much about the cryptocurrency laws on bitcoin, but in general, it seems suncontinental people are having worse time with bitcoin.

Exactly. I was going to ask if he's referring to use of the technology (Blockchain) or the use of crypto (Bitcoin). Banks will definitely adopt this technology. Some are currently working on their blockchain. Eventually one way or the other they will definitely adopt the use of bitcoin and other cryptocurrency.

In this article they talked about cryptography. Maybe there is high possibility to accept bitcoin. If you read this article you will find it.hope bitcoin will be accepted soon and maybe they are going to create own currency.     

[sykt62]

I just saw a news that yesterday  Brac Bank Talking  about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin.

News source:  https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?amp

BTC is an open secret in Bangladesh. people are trading,buy-selling openly in Bangladesh. Many sellers used crypto to their main payment method. Our Pm told that crypto will be legal soon. But don't forget we live in a country called Bangladesh. Anything can happen in this country. After PM announced it will take minimum 5 years to legal BTC.
And cyber police caught many crypto users this new is rubbish. The real news is cyber police arrested only scammers after complaining about scams.
But we always pray that Bangladesh will announce legalcy of BTC soon.