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Author Topic: Is Bangladesh going to accept Cryptocurrency???  (Read 995 times)
Swopon
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December 01, 2020, 06:43:59 PM
 #21

If their government is that committed to stopping people from using cryptocurrency rather than just have them allow it to be usable, then that most likely means they want this fight and would be willing to incarcerate every people in Bangladesh if it may to ensure that bitcoin finds no success there. Hopwfully this changes in the future but if not, more and more people will just use it and will get jailed later on.
They already see the potential of using crypto currency as alternative in their own currency.

Base on what given link above they are considering acceptance of crypto currency in this countries  I mean they more open for crypto currency unlike before, even exchange already add that option to deposit in them using their currency by a P2P in binance or kucoin.
Yes, I meant it that crypto currency acceptance is getting increased and day by day people will understand its positive aspects too. If we are able to make huge transaction on this sector then the government officials will definitely take a look on it again for making new policy because Bangladesh is a democratic country. People have the right to choose their better option and also have the right to express their opinion regarding any issues. I strongly believe that one day the cryptocurrency will be legalized here by the government for sure. But we have to wait for it to make it happen.

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December 01, 2020, 07:27:11 PM
 #22

If those huge exchanges are adding Bangladeshi taka to their platforms, we're sure that they know that the Bangladesh government had banned bitcoin.
But if they've just done that while crypto is banned, there must be something that we don't know. It's just a matter of time until we'll see and read an official statement from the government allowing crypto transactions again and lifting the ban.

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December 01, 2020, 11:40:53 PM
Last edit: December 03, 2020, 01:26:43 AM by Hydrogen
 #23

Quote
Is Bangladesh going to accept Cryptocurrency???


That's an interesting question.

Some islamic denominations embrace an ideology where usury and high interest rates are considered to be against their religion. Bitcoin charging lower rates and fees than many banks could make it more appealing to ideology of islamic finance. Its a closer parallel to their religious ideology on banking and finance.

Governments might ban bitcoin initially. But there could be pressure against them from islamic finance and the islamic faith to do the opposite.

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December 02, 2020, 01:02:30 AM
 #24

This is wonderful news for cryptocurrency traders and enthusiast that reside in Bangladesh because those that still invest in cryptocurrency during the ban moment have to go through some data protection and anonymous process but with the government of Bangladesh lifting up the ban and I hope they wont follow the step others.

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December 02, 2020, 02:18:31 AM
 #25

India accepted Bitcoin, why not Bangladesh, right?

They are being strict when it comes to Bitcoin but they should set it all down and think about it. I don't see their reason for prohibiting it there as it might be a source of income for some people. Though we may say things here, it will all end up in their hands either to continue on prohibiting Bitcoin or accept it, hope they chose the latter.
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December 02, 2020, 03:29:39 AM
 #26

Bitcoin is banned because the decentralized government cannot control it and the central banks do not support it india initially had guidelines for the use of bitcoin later india started using bitcoin if bangladesh adopts cryptocurrency like other countries in the world then the use of bitcoin will help bangladesh a lot bitcoin transactions will become much easier and will not take long to go digital. Bitcoin has not been introduced in bangladesh bank is working on it then it will accept all the coins for the exchange and will be bright in the future.
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December 02, 2020, 04:48:07 AM
 #27

Why any neutral-positive situation perceived as a movement of the continental plate?
The fact that there are some changes in some country where big Mac is a delicacy for people is not a reason for joy, but rather another confirmation of an almost classic story. If the country is poor, then people go to cryptocurrency not because it is so cool and modern, but because they would have at least some money. You confuse the causes and consequences of such processes.
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December 02, 2020, 05:25:07 AM
 #28

I guess we need to read some information about the government that they have already accepted cryptocurrency by regulating it.
Until we heard that from them, that's the time we can expect that crypto will grow in Bangladesh.

I don' know about the legal aspects of p2p services offered by both Binance and Kucoin, but like I said, we need some announcement from the government, otherwise it's still not safe and we will just continue to speculate on things.




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December 02, 2020, 08:04:25 AM
 #29

Don't really know about the situation there but most of the government always want to be in control more specifically a developing country where the economy is still relatively poor. Maybe it's possible for some stable coin and with relatively small amount of money allocated for that but for a bigger thing like legitimacy or being approved by the government that's gonna be tough one. Developing country still need the centralization to grow the economy.

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December 02, 2020, 09:59:49 AM
 #30

Bangladesh is known as one of the resourceful third worlds countries of the world. But their economy is very poor and maximum people are living below the poverty line. Though their GDP growth is very well and it's increasing day by day.
When big exchanges are coming to push cryptocurrency there so another good news that is not so far. The scenario can be different as we think but we can hope for the best.
If its true - good for Bangladesh.
As far as I know pro crypto regulations positively affected Portugal economy for last half a year or so.

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December 02, 2020, 10:06:49 AM
 #31

As far as I know, there are many economic sanctions against Bangladesh by us or other nations. one good point of bitcoin and crypto is help the countries when they face economic sanction because none can block this technology and stand against it. Bangladesh is one good example for it. But since the government of this country didn't take a good reason to recently to the other technologies, there is less hope for bitcoin there. I think it depends on people of Bangladesh, if they start using bitcoin more often, bitcoin will be accepted there officially.

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December 02, 2020, 12:41:11 PM
 #32

Will Bangladesh benefit from accepting cryptocurrencies?
Maybe a small part of the economy and a few thousand people will benefit from such move,by getting crypto jobs and building crypto businesses.
Will the global crypto industry benefit from Bangladesh joining the group of crypto friendly countries?
Well,I don't think that there will be noticeable impact over the global crypto industry,if Bangladesh accepts crypto payments.The economy of Bangladesh is still very small and underdeveloped.
Maybe in the future,Bangladesh will turn into an economical "tiger" and become "the new China" in Asia.


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December 02, 2020, 01:09:32 PM
 #33

Bangladesh is known as one of the resourceful third worlds countries of the world. But their economy is very poor and maximum people are living below the poverty line. Though their GDP growth is very well and it's increasing day by day.
When big exchanges are coming to push cryptocurrency there so another good news that is not so far. The scenario can be different as we think but we can hope for the best.
If its true - good for Bangladesh.
As far as I know pro crypto regulations positively affected Portugal economy for last half a year or so.

I also believe it that Cryptocurrency will be a blessing for any country to push it's economy. But the things can be different when the government officials are involved with corruption.

In Bangladesh, we have seen the corrupted people are too much rather than the good people there. So there will be a risk of money laundering by the people through using cryptocurrency. Government and officials need to be strict more to trace them.

Hoping for the best from the policy makers of Bangladesh who will decide the cryptocurrency will be accepted soon or not. But we can spread the positive aspects to get attention from the government and govt officials.

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December 02, 2020, 01:11:12 PM
Merited by Swopon (1)
 #34

Speaking of crypto users in 2020, from Blockchain data it is noted that 'Bangladesh' has ranked 10th in crypto users, especially Bitcoin in 2020.

From Blockchain data.


Related regulations in 2017 Bangladesh once banned crypto, but not now, despite the current pros and cons of crypto in Bangladesh, but the government must think about the economy and welfare of the people of Bangladesh through the current crypto channel, that's better, considering the growth of Bangladeshis who have a very large interest and curiosity towards crypto, the Bangladeshi government should think about the best in the future, I think.

However, seeing from their neighboring countries that treat crypto legally like Pakistan, this should be the best example for Bangladesh.
I believe that in the future Bangladesh will accept crypto well in the future.

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December 02, 2020, 01:24:36 PM
 #35

Bangladesh is known as one of the resourceful third worlds countries of the world. But their economy is very poor and maximum people are living below the poverty line. Though their GDP growth is very well and it's increasing day by day.
When big exchanges are coming to push cryptocurrency there so another good news that is not so far. The scenario can be different as we think but we can hope for the best.
If its true - good for Bangladesh.
As far as I know pro crypto regulations positively affected Portugal economy for last half a year or so.

Crypto can help many countries only if they allow it, so if Bangladesh goes to accept cryptocurrency then this will be good for them. Third world country should not be left behind, I'm living on a third world country and I'm proud that we are slowly adopting cryptocurrency and even our own government approved many crypto companies operating in our country, I also wish for the best for Bangladesh people, its not too late to adopt.

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December 02, 2020, 02:57:00 PM
 #36

Bangladesh is known as one of the resourceful third worlds countries of the world. But their economy is very poor and maximum people are living below the poverty line. Though their GDP growth is very well and it's increasing day by day.
When big exchanges are coming to push cryptocurrency there so another good news that is not so far. The scenario can be different as we think but we can hope for the best.
If its true - good for Bangladesh.
As far as I know pro crypto regulations positively affected Portugal economy for last half a year or so.

Crypto can help many countries only if they allow it, so if Bangladesh goes to accept cryptocurrency then this will be good for them. Third world country should not be left behind, I'm living on a third world country and I'm proud that we are slowly adopting cryptocurrency and even our own government approved many crypto companies operating in our country, I also wish for the best for Bangladesh people, its not too late to adopt.
Indeed. Cryptocurrency, being accepted in third-world countries like Bangladesh, is a great opportunity for people who wants to generate future income because they wish to have a good future. So if other countries would also follow Bangladesh in their country, it could help solve their country's economic problem, such as reducing unemployment.

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December 03, 2020, 07:22:28 AM
 #37

I think Bangladesh government is paranoid of Bitcoin and blockchain technology. To be honest, if countries like the United States are skeptical about crypto, then third world countries should be skeptical about it as well because they can't afford to totally accept it without scrutiny and having very much knowledge on it. But I am very optimistic that Bangladesh will be crypto friendly within few years because Bitcoin is getting into mainstream and no country would want to be left out if most countries start to accept it!

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December 03, 2020, 07:49:21 AM
 #38

Bangladesh is making a big change in its economy through continued development on every sector. But, it isn't doing good with the blockchain technology and the usage of cryptocurrencies. Bangladesh people are much interested on using cryptocurrency, because even after hard regulations people continue to use it for trading and for other needs. I see Bitcoin as one of the country that follows most of the advancement from India. Maybe the day when Bitcoin is legalized in India, the same could happen with Bangladesh.


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December 04, 2020, 08:33:14 AM
 #39

Speaking of crypto users in 2020, from Blockchain data it is noted that 'Bangladesh' has ranked 10th in crypto users, especially Bitcoin in 2020.

From Blockchain data.


Related regulations in 2017 Bangladesh once banned crypto, but not now, despite the current pros and cons of crypto in Bangladesh, but the government must think about the economy and welfare of the people of Bangladesh through the current crypto channel, that's better, considering the growth of Bangladeshis who have a very large interest and curiosity towards crypto, the Bangladeshi government should think about the best in the future, I think.

However, seeing from their neighboring countries that treat crypto legally like Pakistan, this should be the best example for Bangladesh.
I believe that in the future Bangladesh will accept crypto well in the future.
Great to see it here. Honestly, I didn't know about it earlier. It's very good news for us who belongs as Bangladeshi nation. Users are getting increased so transactions will also be increased equally. Our ministry and government officials will look into it for huge support in economy. Hoping to see Bitcoin and cryptocurrency will be legalized due to public demand in very short time. I will translate it on local board for getting attention from native people to know about this.

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December 04, 2020, 08:57:18 AM
 #40

I have seen someone asking same question, and it’s been a long time the question has been asked, the question being asked again means that their government have not considered approving Bitcoin as a legal asset. In a case like this we can’t tell what it’s going to be, whether their government is going to accept Bitcoin or not, none of us works in the ministry of Bangladesh lol, so we can’t tell what decision they are going to make.

It might be that they don’t understand Bitcoin that much, so they don’t see it yet as a good idea, maybe if they understand it in future and figure out ways they will make it work, then they will do that.

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