Bangladesh may be approve bitcoin very soon according to ICT MINISTER - page 3.

batang_bitcoin

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I hope that it's the start that they'll lift the ban of bitcoin on their country. They need it so that they'll make every citizen who owns bitcoin will go out and won't need to hide anymore because of how they're coping up with this ban.

Quote from: Review Master on September 29, 2021, 04:09:10 PM

On the other hand, everyone's so much excited for the adoption of crypto in Bangladesh and so do i. Cheesy

There's already an adoption there but it's stopped and slowed down due to the policy that they've made. They've banned it but still there are people that continue to accumulate bitcoin there but they're just hiding it.

taufik123

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Adoption continues to be carried out in various developing countries and this proves the popularity and real benefits of bitcoin as a driving force for a country's economy. Bangladesh would certainly do some research before starting to adopt bitcoin if this is indeed the case. Learning from El Salvador about adoption should be followed by interest from the community as well.
in some other developing countries Bitcoin is also used as an investment tool or as a commodity trade, so Bitcoin is still legal even though it is not a legal currency as payment.

DoublerHunter

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Quote from: Yogee on September 29, 2021, 11:04:00 AM

Quote from: Sihab76 on September 29, 2021, 10:40:15 AM

...
There is no Bangladesh Cryptocurrency related organization or affiliation with it. Bangladesh Central Bank has always been against Bitcoin. Bangladesh Bank and Bangladesh government never used bitcoin Didn't bother with acceptance. So I believe Bangladesh will never recognize bitcoin.

That's too bad. I think a centralized exchange is the first step before bitcoin and other cryptocurrencies gains any recognition there. Maybe that's what the ICT Minister should try to propose first. There are many countries that does not recognize BTC as a legal tender but they still treat it as an investment asset.

^ Who knows!
BTC has been popular a long time ago and I don't think they did not recognize by them. Probably they saw the potential of BTC, the usage on it to their country, instead of banning, why not legalizing and it could be potential their country have benefits on it. We hope that they are the 4th countries that legalized BTC. However, this is good news to us as crypto enthusiasts, because it has an impact on the price.

Hippocrypto

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Quote from: Imran232 on September 29, 2021, 09:56:43 AM

~snip~

There, Junaid Ahmed Palak sir, State Minister for ICT of Bangladesh, made a number of comments in favor of Bitcoin. His comments suggest that they are thinking of legalizing Bitcoin in Bangladesh. This is the news link: https://youtu.be/oZogIfJBz7M

I am translating the news from banga to English. Here I will highlight his points.

We should be updated with technology in money evolution. Because first we use products for products then paper money then bank then plastic card as visa or master card, then mobile wallet then we can't accept digital payment system as a degital currency. I think this is top point.
He says if we buy any illegal products with legal fiat currency then can we blame fiat currency? The answer os no, obviously not. So if bitcoin uses for any illegal work then we can't blame bitcoin. Another best point
And lastly he says we should discussed about it so that in crypto race we get last position. So we should discuss about it and teach our people about bitcoin. That is why Our ICT MINISTER suggest the Department to make a report about bitcoin and send it to Bangladesh bank then we will discussed together about it approval.

I think this little conference of him with news channel is a huge jump for Bangladesh in bitcoin sector. For me it is a purely posetive news for us. Might be we can see very soon that our country means Bangladesh approve bitcoin. I am waiting for the day.

This positive news is highly appreciated, and I adore their transparency behind what's really happening of Bitcoin with other countries today despite of fake news that also trying to mislead us. Fortunately, cryptocurrency still continue raging towards the top and never been shakin by different crab mentality people who wanted to take down bitcoin just to pursue their dark intentions. Hopefully approval will be expedited and after that we will see the potential positive outcome for btc price on its current market value.

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Quote from: Review Master on September 29, 2021, 04:09:10 PM

Quote from: Imran232 on September 29, 2021, 09:56:43 AM

Might be we can see very soon that our country means Bangladesh approve bitcoin. I am waiting for the day.

That’s the most positive vibes or approach from our honorable ICT Minister, no doubt about it. But here's the thing, previously he mentioned in an conference that they're focusing on blockchain (private one), not crypto-currency. Also suddenly China banned crypto and i have a bad vibe that he might follow the same path like China did, means deploying own digital assets instead of adopting bitcoin. Also point to be noted, he mentioned about introducing Bangladesh's own digital currency in that attached video. So it could be the worst case if they do this.

On the other hand, everyone's so much excited for the adoption of crypto in Bangladesh and so do i. Cheesy

this is indeed good news for the people who are residing in this country. because as far as i know, their Central Bank declared crypto transactions illegal. so they are changing their tune now. maybe, the influence of what's happening in el salvador. but their citizens should not rejoice this early because they don't know yet what is the real intention of their government. as you said, they may launch their own digital currency, and let's see what is their approach towards these countless cryptocurrencies existing in the market.

Review Master

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Quote from: Imran232 on September 29, 2021, 09:56:43 AM

Might be we can see very soon that our country means Bangladesh approve bitcoin. I am waiting for the day.

That’s the most positive vibes or approach from our honorable ICT Minister, no doubt about it. But here's the thing, previously he mentioned in an conference that they're focusing on blockchain (private one), not crypto-currency. Also suddenly China banned crypto and i have a bad vibe that he might follow the same path like China did, means deploying own digital assets instead of adopting bitcoin. Also point to be noted, he mentioned about introducing Bangladesh's own digital currency in that attached video. So it could be the worst case if they do this.

On the other hand, everyone's so much excited for the adoption of crypto in Bangladesh and so do i. Cheesy

Quidat

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This really is a great news. Seems like he is inspired by El Salvador to start State Sponsored Bitcoin Mining. It would be awesome if that happens.

Anything that do talks about recognition or adoption is always been a great news.El salvador did really make out some eye opening kind of event where it shows that it is really
possible for Bitcoin to be integrated on a certain nation/country despite of its issues when it comes on being decentralized and if Bangladesh would recognize and possibly
make out some possible same move then this is really a very great news since other countries might consider on taking the same step also.

savetheFORUM

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Quote from: SFR10 on September 29, 2021, 01:22:26 PM

Quote from: Imran232 on September 29, 2021, 09:56:43 AM

His comments suggest that they are thinking of legalizing Bitcoin in Bangladesh.
~Snipped~

So it could go either way and despite enjoying what he said on his second point ^{[finally, there's someone that works for the government without possessing a pea-sized brain]}, I have a feeling that it's not going to happen anytime soon ^{[assuming that "this comment" is accurate]}.

You are right in this as we have very bad system in subcontinent they will talk then they will send for approval like this procedure is going to take very long time. Bangladesh stance was never been positive for Bitcoin and cryptocurrency, but now they are thinking. If they have election process in near future then first they will check is this going to help them or not if going to help then surely they will use this as their positive otherwise It's going to be ended in dead house culture.

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Quote from: Imran232 on September 29, 2021, 09:56:43 AM

His comments suggest that they are thinking of legalizing Bitcoin in Bangladesh.
~Snipped~

So it could go either way and despite enjoying what he said on his second point ^{[finally, there's someone that works for the government without possessing a pea-sized brain]}, I have a feeling that it's not going to happen anytime soon ^{[assuming that "this comment" is accurate]}.

Shenzou

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Every person is responsible for his own statements and opinions, and the prime minister here is just making a suggestion and approval about having to use bitcoin and adopt it, but at the end of the like any official who is in the government they don't just have full control over making any laws or passing any decisions on thier own they have to go through a lot of people and be voted by majority because that is how democracy works, so lets not just the gun and get hyped for no reason.

velosepur

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Bangladesh is one of only 6 countries in the world that are considered “hostile” to bitcoin. Situation is complicated there and we cant see situation as not changing soon so lets see official news from Bank and Government in next month.

Fesatmas

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Still as input made by one party. Of course we cannot make this a complete reference if the Bangladesh ICT department makes a statement of support regarding the legality of Bitcoin. Because so far, it is still with the rules of the bill in Bangladesh regarding the position of Bitcoin as a prohibition that has not been changed until now.
If the transfer of this statement becomes a bright spot that gets a direct response from all governments in Bangladesh, of course we are very happy. Although currently the possibility to legalize BItcoin in Bangladesh looks to be difficult to realize.

Fortify

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Quote from: Imran232 on September 29, 2021, 09:56:43 AM

There, Junaid Ahmed Palak sir, State Minister for ICT of Bangladesh, made a number of comments in favor of Bitcoin. His comments suggest that they are thinking of legalizing Bitcoin in Bangladesh. This is the news link: https://youtu.be/oZogIfJBz7M

I am translating the news from banga to English. Here I will highlight his points.

We should be updated with technology in money evolution. Because first we use products for products then paper money then bank then plastic card as visa or master card, then mobile wallet then we can't accept digital payment system as a degital currency. I think this is top point.
He says if we buy any illegal products with legal fiat currency then can we blame fiat currency? The answer os no, obviously not. So if bitcoin uses for any illegal work then we can't blame bitcoin. Another best point
And lastly he says we should discussed about it so that in crypto race we get last position. So we should discuss about it and teach our people about bitcoin. That is why Our ICT MINISTER suggest the Department to make a report about bitcoin and send it to Bangladesh bank then we will discussed together about it approval.

I think this little conference of him with news channel is a huge jump for Bangladesh in bitcoin sector. For me it is a purely posetive news for us. Might be we can see very soon that our country means Bangladesh approve bitcoin. I am waiting for the day.

It's a bit of a tricky situation for the government, but their default stance on Bitcoin should have been to watch and learn all along. The usual case in countries such as Bangladesh is tax under reporting and this scares the government into taking drastic action like banning any financial instruments that they cannot easily control. It's understandable from that point of view, but if they allow easier forms of banking for citizens and the fees drop then they should be more likely to pay such taxes for the benefit of all. If Bangladeshi citizens fear that their banking system is weak then it makes perfect sense to allow decentralized banking and better protect the average person.

BD Crypto

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Its really Great to hear Bangladesh showing positivity about Bitcoin.
Hope very soon every Country will start legalizing Bitcoin payments and China will go back from their current decision.

Yogee

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Quote from: Sihab76 on September 29, 2021, 10:40:15 AM

...
There is no Bangladesh Cryptocurrency related organization or affiliation with it. Bangladesh Central Bank has always been against Bitcoin. Bangladesh Bank and Bangladesh government never used bitcoin Didn't bother with acceptance. So I believe Bangladesh will never recognize bitcoin.

That's too bad. I think a centralized exchange is the first step before bitcoin and other cryptocurrencies gains any recognition there. Maybe that's what the ICT Minister should try to propose first. There are many countries that does not recognize BTC as a legal tender but they still treat it as an investment asset.

Sihab76

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Quote from: Yogee on September 29, 2021, 10:34:46 AM

Quote from: Imran232 on September 29, 2021, 09:56:43 AM

...That is why Our ICT MINISTER suggest the Department to make a report about bitcoin and send it to Bangladesh bank then we will discussed together about it approval.

I think this little conference of him with news channel is a huge jump for Bangladesh in bitcoin sector. For me it is a purely posetive news for us. Might be we can see very soon that our country means Bangladesh approve bitcoin. I am waiting for the day.

It looks like the Bangladesh Central Bank is firm in its 2017 decision not to allow bitcoin transactions among financial institutions. It's nice to see an attempt to adopt to changes but I'm still doubtful they can convince the same institution that issued the ban. Are there centralized exchanges legally operating in your country?

There is no Bangladesh Cryptocurrency related organization or affiliation with it. Bangladesh Central Bank has always been against Bitcoin. Bangladesh Bank and Bangladesh government never used bitcoin Didn't bother with acceptance. So I believe Bangladesh will never recognize bitcoin.

Yogee

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Quote from: Imran232 on September 29, 2021, 09:56:43 AM

...That is why Our ICT MINISTER suggest the Department to make a report about bitcoin and send it to Bangladesh bank then we will discussed together about it approval.

I think this little conference of him with news channel is a huge jump for Bangladesh in bitcoin sector. For me it is a purely posetive news for us. Might be we can see very soon that our country means Bangladesh approve bitcoin. I am waiting for the day.

It looks like the Bangladesh Central Bank is firm in its 2017 decision not to allow bitcoin transactions among financial institutions. It's nice to see an attempt to adopt to changes but I'm still doubtful they can convince the same institution that issued the ban. Are there centralized exchanges legally operating in your country?

Sihab76

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Although Bangladesh's ICT department has previously commented positively on Bitcoin, no positive response has been received from government officials. MP Palak Sir does not take Bitcoin seriously, no matter how much he talks about it. Therefore, such news does not carry any importance in the context of Bangladesh.

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Bangladesh minister making a statement supporting the adoption of cryptocurrency, usage of technology and the need for the same will make a big progress. However in my understanding sometimes the minister might get opposition from the government, because in the past I came across an article in which common man is arrested for using bitcoin. Atleast this will push Bangladesh to take a decision similar to India.

Imran232

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There, Junaid Ahmed Palak sir, State Minister for ICT of Bangladesh, made a number of comments in favor of Bitcoin. His comments suggest that they are thinking of legalizing Bitcoin in Bangladesh. This is the news link: https://youtu.be/oZogIfJBz7M

I am translating the news from banga to English. Here I will highlight his points.

We should be updated with technology in money evolution. Because first we use products for products then paper money then bank then plastic card as visa or master card, then mobile wallet then we can't accept digital payment system as a degital currency. I think this is top point.
He says if we buy any illegal products with legal fiat currency then can we blame fiat currency? The answer os no, obviously not. So if bitcoin uses for any illegal work then we can't blame bitcoin. Another best point
And lastly he says we should discussed about it so that in crypto race we get last position. So we should discuss about it and teach our people about bitcoin. That is why Our ICT MINISTER suggest the Department to make a report about bitcoin and send it to Bangladesh bank then we will discussed together about it approval.

I think this little conference of him with news channel is a huge jump for Bangladesh in bitcoin sector. For me it is a purely posetive news for us. Might be we can see very soon that our country means Bangladesh approve bitcoin. I am waiting for the day.

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