Cryptocurrency and Bangladesh-Legal preparations and disputes || Tron Fan Club

Hello Everyone
I hope you are all doing very well. I am new to this community and this is my first post in this community. In today's post I will talk about legal preparation and controversy of cryptocurrency in Bangladesh. So let's get started.

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Cryptocurrencies or digital currencies reduce dependence on the country's currency. Day by day the popularity of cryptocurrency is increasing worldwide. Its spread is also noticeable in Bangladesh. Some organizations and individuals in Bangladesh want to do cryptocurrency transactions but Bangladesh has not yet given any official recognition. So there is no end to the controversy.

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• Is cryptocurrency legal in Bangladesh?

Cryptocurrency is not legal in Bangladesh.
In 2017, the Central Bank of Bangladesh warned in its various circulars that the use of cryptocurrencies would be considered illegal.


Bangladesh Bank in its notification said that there are various legal risks and it may lead to violation of money laundering and several laws enacted in Bangladesh. No financial claim against it shall be recognized as it has not been issued by any legitimate body or department of any other country in the world. That is, Bangladesh Bank has repeatedly warned about the issue and asked to refrain from using it.

Again, Bangladesh Bank has sent a letter to various departments regarding the investigation of various crimes and said that Bangladesh Bank does not consider it as a crime as there is no policy regarding the storage and transaction of cryptocurrency.

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In Bangladesh in recent years, various fraudsters have embezzled crores of rupees by investing in common people in various ways to earn more profit and smuggled out of the country. And all these transactions are done through digital currency or cryptocurrency. As this cryptocurrency transaction is not regulated by Bangladesh Bank and transactions are organized without the verification of individual theory, fraudsters are opting for this medium.

Recently, to warn people about such scams, the policy makers of Bangladesh have clearly stated in various statements that this transaction is completely illegal in Bangladesh and people are violating the Money Laundering Act through it without their knowledge.

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Many analysts have given different opinions on this. Many analysts have advocated for its legalization. Through it they have highlighted various improvements in other sectors of Bangladesh. They said if it is illegal in Bangladesh, many sectors of the country will be deprived of many benefits. So they advocated the legalization of this cryptocurrency.

Although the use of cryptocurrency is not legal in Bangladesh, many people of Bangladesh use this digital currency. They are making profits by investing in the world of cryptocurrencies.

I am hopeful that Bangladesh will soon formulate a proper policy on the matter and give a specific law or a proper guideline, so that cryptocurrency in Bangladesh gets legal recognition and we can use cryptocurrency.

This was today's brief review. Thank you.