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Topic: Bitcoin Bangladesh - page 2. (Read 418 times)

legendary
Activity: 3080
Merit: 1500
August 15, 2019, 01:23:26 PM
#10
Bitcoin transactions were declared illegal by Bangladesh Bank in 2014. According to them, "The transactions in these currencies are not authorized by the Bangladesh Bank or any other regulatory body, so the use of these virtual currencies is not supported by the Foreign Exchange Control Act, 1947; Anti-Terrorism Act, 2009 and Money Laundering Prevention Act, 2012".


It's an old fact. Bangladesh even arrested two students for dealing in cryptos. But what do you want to establish now?
legendary
Activity: 2632
Merit: 1212
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August 15, 2019, 10:47:51 AM
#9
Bitcoin transactions were declared illegal by Bangladesh Bank in 2014. According to them, "The transactions in these currencies are not authorized by the Bangladesh Bank or any other regulatory body, so the use of these virtual currencies is not supported by the Foreign Exchange Control Act, 1947; Anti-Terrorism Act, 2009 and Money Laundering Prevention Act, 2012".


Um yeah, of course they are not authorized by any bank or regulatory body, that's actually kind of the whole point of Bitcoin.

And anyway the new announcement changes nothing. If the status was already illegal, that announcement was not necessary. If it was not illegal, the statement actually simply means the central bank doesn't recognize it. Like they probably wouldn't recognize pebble trading, but it happens anyway.
legendary
Activity: 2828
Merit: 6108
Blackjack.fun
August 15, 2019, 05:41:12 AM
#8
I know this is going to give me some serious headaches but...

We are selling money to each other but the banks not cooperating.

What do you expect banks to do when the law forces them to not cooperate?
Break the law and risk closure and jail?

All of us who do the bitcoin business are really under threat, this is an international market transaction so the government should be monitored here.

It doesn't matter where the exchange is located, the laws in your country apply as long as you're doing this while in your country. Go to Malaysia exchange your coins there and come back with the fiat.

If Bangladesh's banks offer the opportunity to exchange. It would have been better for us. but they are not doing that in Bangladesh. We are in great trouble for this.

As I said numerous times, how about you stop voting for morons rather than complaining about the laws they make?
What do you expect, somebody else to risk going to jail to help you?
Seriously, did you thought for a second before asking these questions?

What's new? As you have said, they have been anti-bitcoin since 2014. So why would everyone be surprised by this news?

Probably because some don't read the news and they found out only when they get in trouble?
One of my neighbors told me how his friend got a ticket from driving the wrong way on a one-way road.
He argued with the police that he drove like this for years, that the sign was new until the cop showed him the sign in google maps from 3 years ago. The man was used to the road being two-way traffic for 15 years, he simply never paid attention to any new sign popping up, he thought he knew everything.



newbie
Activity: 15
Merit: 0
August 15, 2019, 03:35:25 AM
#7
We are selling money to each other but the banks not cooperating.
Many are talking about the dollar exchange from us but they are not returning it later, They are somehow hidden from us. There they are doing us great harm.
When government declared something as illegal then how banks will support on buying or selling those?

All of us who do the bitcoin business are really under threat, this is an international market transaction so the government should be monitored here.

Only thing you can't do is converting it into your local fiat.

If Bangladesh's banks offer the opportunity to exchange. It would have been better for us. but they are not doing that in Bangladesh. We are in great trouble for this.
full member
Activity: 1106
Merit: 166
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August 15, 2019, 03:28:15 AM
#6
We are selling money to each other but the banks not cooperating.
Many are talking about the dollar exchange from us but they are not returning it later, They are somehow hidden from us. There they are doing us great harm.
When government declared something as illegal then how banks will support on buying or selling those?

All of us who do the bitcoin business are really under threat, this is an international market transaction so the government should be monitored here.

Bitcoin is not a business.

You can send or receive bitcoin even if government said it as illegal.

Only thing you can't do is converting it into your local fiat.
newbie
Activity: 15
Merit: 0
August 15, 2019, 03:24:50 AM
#5
We are selling money to each other but the banks not cooperating.
Many are talking about the dollar exchange from us but they are not returning it later, They are somehow hidden from us. There they are doing us great harm.
When government declared something as illegal then how banks will support on buying or selling those?

All of us who do the bitcoin business are really under threat, this is an international market transaction so the government should be monitored here.
full member
Activity: 1106
Merit: 166
★777Coin.com★ Fun BTC Casino!
August 15, 2019, 02:25:36 AM
#4
We are selling money to each other but the banks not cooperating.
Many are talking about the dollar exchange from us but they are not returning it later, They are somehow hidden from us. There they are doing us great harm.
When government declared something as illegal then how banks will support on buying or selling those?

If you really want to trade bitcoin still then migrate from there.
newbie
Activity: 15
Merit: 0
August 15, 2019, 01:27:08 AM
#3
What's new? As you have said, they have been anti-bitcoin since 2014. So why would everyone be surprised by this news? They have a harsher penalty as well, jail time. So if you are from Bangladesh, you know that consequences of your action. And to give you a hint:

(https://www.dhakatribune.com/bangladesh/crime/2018/02/19/police-hunt-bitcoin-users-bangladesh/)


This is nothing new to me, However, in line with the world, why are banks in Bangladesh not supporting this? PayPal does not have Bangladesh , so there must be something.
The people we deal with online are somehow being interrupted and banks are not coming to us. We are selling money to each other but the banks not cooperating.
Many are talking about the dollar exchange from us but they are not returning it later, They are somehow hidden from us. There they are doing us great harm.
However, their views are different...
An official of BFIU said: “Banks and other financial organizations of the country have been ordered to maintain a strict vigil on cryptocurrency trading. A circular will soon be sent out detailing the matter.”
“There is no way to purchase these currencies legally through banking channels. Cybercrime investigators are working on the matter,” he continued.
legendary
Activity: 3080
Merit: 1353
August 14, 2019, 04:41:45 PM
#2
What's new? As you have said, they have been anti-bitcoin since 2014. So why would everyone be surprised by this news? They have a harsher penalty as well, jail time. So if you are from Bangladesh, you know that consequences of your action. And to give you a hint:

(https://www.dhakatribune.com/bangladesh/crime/2018/02/19/police-hunt-bitcoin-users-bangladesh/)
newbie
Activity: 15
Merit: 0
August 14, 2019, 01:34:16 PM
#1
Bitcoin transactions were declared illegal by Bangladesh Bank in 2014. According to them, "The transactions in these currencies are not authorized by the Bangladesh Bank or any other regulatory body, so the use of these virtual currencies is not supported by the Foreign Exchange Control Act, 1947; Anti-Terrorism Act, 2009 and Money Laundering Prevention Act, 2012".
http://thefinancialexpress.com.bd/public/uploads/Bitcoin-BB.jpg
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