Central bank issues notice banning Bitcoin in Bangladesh
29 Dec 2017

Bangladesh Bank has banned the use of Bitcoin, a virtual cryptocurrency, in Bangladesh by issuing a circular on its website.

The circular read that Bitcoin is not an authorised and legal currency in any other country in the world.

“Transaction with this currency may cause a violation of the existing money laundering and terrorist financing regulations,” the circular further read.

However, the notice does not carry any indication on how the regulation would be enforced.

The circular also said Bitcoin is not authorised by any regulatory authority and thereby its use may cause financial loss of the citizens.

“According to the information received from the internet and different news media, transactions have been taking place using different online-based exchange platforms including Bitcoin, Ethereum, Ripple and Litecoin.”

These virtual currencies are not authorised by any legal authority of any country and thereby no financial claims can be made against such currencies.

By Golam Mowla, Dhaka Tribune

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