'Bitcoin' is illegal, risky

Although the virtual currency 'Bitakken' is not valid in the world, it is being traded online. It is believed that its use in Bangladesh is also being used. Bangladesh Bank has called for the 'illegal' transactions to be discontinued in the digital currency. Yesterday, the central bank warned users with the intriguing advertisement in different newspapers.

Information technology experts say there is no banking system in the transaction of Bitcoin. Direct access (peer-to-peer) between two users online through electronic. Cryptography is the method used for the security of transactions. In addition to the dollar-pound-euros, purchases can be made in cryptocarrency bitcane. But in other currencies such as the government and central bank of the country, it is not in the case of bitcoin. In 2009, Satoshi Nakamoto's pseudonym or some software developer introduced a new type of virtual currency. This type of coin is known as cryptocarcation. The cryptococoncy invented by Nakamoto is named after 'Bitakayana'. But in the meantime hacking has happened in Bitakayane. Bitcoin prices started to fall around the world. Last week, Bitcoin lost 30 percent interest in one day.

Yesterday, the Bangladesh Bank warning warning about the unsafe currency has been said, dealing in various exchange platforms such as online-based virtual currency or crypto currency such as Bitakayana, Etherium, Ripple, Litkayen etc. The Foreign Currency Control Act, 1947, Anti Terrorism Act 2009 and the Money Laundering Prevention Act 2012 are not supported because these virtual currency is not a valid currency issued by a legal authority of a country.

Bangladesh Bank's warning also said that violation of the law of money laundering and terrorist financing by unauthorized transactions in virtual currency with anonymous / pseudo-sponsored online users could be violated. Customers can face different risks, including potential financial and legal risks. In order to avoid possible financial and legal risk, Bangladesh Bank requested the public to provide support for trading in virtual currency such as Bitcoin or to avoid these promotions and to prevent it from circulating.

When asked about the bank's spokesperson and executive director Shubhankar Saha, Kaler Kantho said last night, "We warned about Bitcoin in 2014. I again warned again in different media again yesterday. Because it is not supported by any central bank or any legal authority. The laws of Bangladesh also do not support it. Because it has the opportunity to do many misdeeds. It is heard that in other countries of the world, some people in our country may be investing in it. But there is no guarantee of how to get the money back. Those who are using it are in great risk. We wanted to make people aware about the fact that the public would not be allowed to use Bitcoin.

Shubankar Saha said, even if a person and organization use it, then the law will be taken according to law. There are money against electronic money such as credit card or mobile banking etc. But there is nothing against Bitcoin. So, he is very risky, "he said.