Is Bangladesh going to accept Cryptocurrency??? - page 2.

bitzizzix

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Quote from: Swopon on December 23, 2020, 09:13:55 PM

Quote from: iv4n on December 23, 2020, 12:08:19 PM

Quote from: raidarksword on December 23, 2020, 09:38:46 AM

Any country that will adopt cryptocurrency is always be a good news and it will spread the adoption and the ideology from all over the world. The adoption should be to any country as long as it propagate the good news and good intentions of crypto currency to all citizens.

I agree with you, simply good news are always welcome! I opened the article that OP shared, it's about Binance adding support for the Bangladeshi (BDT), Czech Koruna (CZK) and Ghananian Cedi (GHS) to the Binance Peer-to-Peer (P2P) trading platform against BTC, USDT, ETH, BNB and BUSD with zero transaction fees!
There's no mentioning any kind of adoption in any of these countries! Their laws are probably more opened for crypto, which is a good thing for crypto users from these countries, but it's too early to talk about legalization of crypto!

Yes, it is too early thinking but I just mention it to inspire them whoever involved with this. Maybe the day is getting closer and we may feel the things which will be useful too. I think every country will legalize it but it takes some more time.

Indeed, crypto has always been a good topic of conversation and there will always be pros and cons for each country or other problems, because all countries that prohibit it have different reasons.
Maybe it is too early to legalize bitcoin or other crypto in any country that has a conflict with bitcoin and it is very fortunate for those who are in countries that legalize bitcoin and there are also some who allow bitcoin or other crypto as an investment, but are prohibited if used as a transaction whatever, like in the country I live in, and Bangladesh prohibits it because it avoids money laundering and hopefully all countries can legalize bitcoin or other crypto after studying it well.

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Quote from: iv4n on December 23, 2020, 12:08:19 PM

Quote from: raidarksword on December 23, 2020, 09:38:46 AM

Any country that will adopt cryptocurrency is always be a good news and it will spread the adoption and the ideology from all over the world. The adoption should be to any country as long as it propagate the good news and good intentions of crypto currency to all citizens.

I agree with you, simply good news are always welcome! I opened the article that OP shared, it's about Binance adding support for the Bangladeshi (BDT), Czech Koruna (CZK) and Ghananian Cedi (GHS) to the Binance Peer-to-Peer (P2P) trading platform against BTC, USDT, ETH, BNB and BUSD with zero transaction fees!
There's no mentioning any kind of adoption in any of these countries! Their laws are probably more opened for crypto, which is a good thing for crypto users from these countries, but it's too early to talk about legalization of crypto!

Yes, it is too early thinking but I just mention it to inspire them whoever involved with this. Maybe the day is getting closer and we may feel the things which will be useful too. I think every country will legalize it but it takes some more time.

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Quote from: raidarksword on December 23, 2020, 09:38:46 AM

Any country that will adopt cryptocurrency is always be a good news and it will spread the adoption and the ideology from all over the world. The adoption should be to any country as long as it propagate the good news and good intentions of crypto currency to all citizens.

I agree with you, simply good news are always welcome! I opened the article that OP shared, it's about Binance adding support for the Bangladeshi (BDT), Czech Koruna (CZK) and Ghananian Cedi (GHS) to the Binance Peer-to-Peer (P2P) trading platform against BTC, USDT, ETH, BNB and BUSD with zero transaction fees!
There's no mentioning any kind of adoption in any of these countries! Their laws are probably more opened for crypto, which is a good thing for crypto users from these countries, but it's too early to talk about legalization of crypto!

raidarksword

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Any country that will adopt cryptocurrency is always be a good news and it will spread the adoption and the ideology from all over the world. The adoption should be to any country as long as it propagate the good news and good intentions of crypto currency to all citizens.

Vishnu.Reang

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Quote from: laredo7mm on December 23, 2020, 03:04:37 AM

The economy of Bangladesh is not very poor and it's also not true that the maximum number of people live below the poverty line. This is true for Indians. Even Bangladesh GDP is higher than India's now along with people's earnings per year. Bangladesh is the number one developing country in Southeast Asia.

What this has to do with the issue of cryptocurrency legalization? And if the GDP per capita in Bangladesh was very high, then tens of millions of illegal Bangladeshi immigrants won't be living in India, without the necessary permit. Bangladesh is just like any other country in South Asia, where the government is hostile to new innovations such as cryptocurrency.

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Quote from: Swopon on November 30, 2020, 02:14:19 AM

Bangladesh is known as one of the resourceful third worlds countries of the world. But their economy is very poor and maximum people are living below the poverty line. Though their GDP growth is very well and it's increasing day by day.

The economy of Bangladesh is not very poor and it's also not true that the maximum number of people live below the poverty line. This is true for Indians. Even Bangladesh GDP is higher than India's now along with people's earnings per year. Bangladesh is the number one developing country in Southeast Asia.

Quote from: Swopon on November 30, 2020, 02:14:19 AM

Their government is not crypto-friendly and it is strongly prohibited there. Some people already got punishment due to using transaction via cryptocurrency.

Currently, I have noticed some changes happened with Bangladesh, and journalists of that country already published articles about cryptocurrency and trying to highlight some position aspects.

Govt is not very friendly because they do not have qualified people. That is why some popular sites like Reddit is banned till now. But I think they will follow their neighbor. Also, some exchange is allowing P2P BDT pair and a local bank is being partnered with XRP.

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Quote from: AjithBtc on December 21, 2020, 03:34:23 PM

Overcoming the ban imposed over the usage of cryptocurrencies for the Transaction purpose as well on other needs people continue to make use of it. In reality very little people from these countries were aware about bitcoin and other cryptocurrencies. The banning by the government had made bitcoin usage punishable, but the users who have much attached to it use varied others
Sources.

Obviously it is not practical for the government to arrest millions of people who use cryptocurrency. And due to the semi-anonymous nature of cryptocurrency, it is not easy to trace the users as well. As a result, they will arrest a few random traders and give it a lot of publicity, in order to deter others from dealing in cryptocurrency. This was the strategy used in India and some of the other Asian nations as well.

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Overcoming the ban imposed over the usage of cryptocurrencies for the Transaction purpose as well on other needs people continue to make use of it. In reality very little people from these countries were aware about bitcoin and other cryptocurrencies. The banning by the government had made bitcoin usage punishable, but the users who have much attached to it use varied others
Sources.

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Quote from: Vishnu.Reang on December 21, 2020, 12:52:19 PM

Quote from: Swopon on December 20, 2020, 04:01:19 PM

I have found six countries so far where cryptocurrency is totally banned and punishable crime. Bangladesh is one of them where it is already provided earlier. Six countries are....

There is a difference between de facto illegal and de jure illegal. In countries such as Bolivia and Ecuador, no one has been arrested till now for trading in Bitcoin. On the other hand, Bangladesh and Nepal have a history of arresting Bitcoin traders. So you can't compare these two group of countries. Bangladesh belongs to a select group, where trading in cryptocurrency can land you in jail.

Yes, you are correct mate. Though there has some restrictions in other countries, that's why I just highlighted them on a same ways to mean that mentioned all countries are restricted. My friend also arrested in Bangladesh due to making transactions through cryptocurrency. So, here restricted countries are highlighted.

Vishnu.Reang

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Quote from: Swopon on December 20, 2020, 04:01:19 PM

I have found six countries so far where cryptocurrency is totally banned and punishable crime. Bangladesh is one of them where it is already provided earlier. Six countries are....

There is a difference between de facto illegal and de jure illegal. In countries such as Bolivia and Ecuador, no one has been arrested till now for trading in Bitcoin. On the other hand, Bangladesh and Nepal have a history of arresting Bitcoin traders. So you can't compare these two group of countries. Bangladesh belongs to a select group, where trading in cryptocurrency can land you in jail.

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Quote from: Sithara007 on December 18, 2020, 12:08:13 AM

It is a crime to use Bitcoin in Bangladesh, because the government has imposed a blanket ban on all cryptocurrency-related activity. And Bangladesh is not the only country to have done this. You can check the map at Bitlegal and it is clear that dozens of countries have banned the use of cryptocurrency in their jurisdictions, including Nepal, Namibia, Vietnam and Iceland.

I have found six countries so far where cryptocurrency is totally banned and punishable crime. Bangladesh is one of them where it is already provided earlier. Six countries are,

Algeria
Bolivia
Ecuador
Bangladesh
Nepal
Macedonia

Check out the reference below.
Reference- https://www.google.com/amp/s/blog.sagipl.com/legality-of-cryptocurrency-by-country/amp/

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Quote from: xSkylarx on December 17, 2020, 09:29:47 PM

Why is it a crime there to use bitcoin? Is it always used by the criminals there that resulted for the government to impose such law? That is the only reason I can think of to ban the use of bitcoin there. Other countries who also have reported cases of using bitcoin illegally don't just ban bitcoin thus they require many papers to prove how and where you get your bitcoin.

It is a crime to use Bitcoin in Bangladesh, because the government has imposed a blanket ban on all cryptocurrency-related activity. And Bangladesh is not the only country to have done this. You can check the map at Bitlegal and it is clear that dozens of countries have banned the use of cryptocurrency in their jurisdictions, including Nepal, Namibia, Vietnam and Iceland.

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Quote from: Swopon on December 17, 2020, 08:40:59 PM

Quote from: Sithara007 on December 15, 2020, 12:12:59 AM

Quote from: Stedsm on December 14, 2020, 12:56:33 PM

I think that when you (Gov) know about your country's economic health and see that crypto has a wide range of services available as well as can bring in enough opportunities to the youth of their country if they allow crypto exchanges to operate there. I believe it can also help strengthen their GDP and can also gain some extra momentum as one whole country starts accepting it, so it'll be a win-win for both the ends.

The governments still believe that allowing cryptocurrency trading would be more harmful for them, compared to any potential gains. In none of the South Asian nations, Bitcoin is 100% legal. In India, recently an individual was arrested from the city of Bangalore, for trying to install a Bitcoin ATM. Nepal and Bangladesh have banned all cryptocurrency activity and arrested those who have traded with cryptocurrencies.

You are right. Here, in Bangladesh, crypto currency buy, sell or exchange is strongly denied and one of the punishable crime to do such things. Already it is proven model here that Cryptocurrency isn't allowed. But some people like us using it with our own risk because we love to use it and we are not involve in any crime using cryptocurrency. Hopefully government will think about it with some positive aspects.

Why is it a crime there to use bitcoin? Is it always used by the criminals there that resulted for the government to impose such law? That is the only reason I can think of to ban the use of bitcoin there. Other countries who also have reported cases of using bitcoin illegally don't just ban bitcoin thus they require many papers to prove how and where you get your bitcoin.

Swopon

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Quote from: Sithara007 on December 15, 2020, 12:12:59 AM

Quote from: Stedsm on December 14, 2020, 12:56:33 PM

I think that when you (Gov) know about your country's economic health and see that crypto has a wide range of services available as well as can bring in enough opportunities to the youth of their country if they allow crypto exchanges to operate there. I believe it can also help strengthen their GDP and can also gain some extra momentum as one whole country starts accepting it, so it'll be a win-win for both the ends.

The governments still believe that allowing cryptocurrency trading would be more harmful for them, compared to any potential gains. In none of the South Asian nations, Bitcoin is 100% legal. In India, recently an individual was arrested from the city of Bangalore, for trying to install a Bitcoin ATM. Nepal and Bangladesh have banned all cryptocurrency activity and arrested those who have traded with cryptocurrencies.

You are right. Here, in Bangladesh, crypto currency buy, sell or exchange is strongly denied and one of the punishable crime to do such things. Already it is proven model here that Cryptocurrency isn't allowed. But some people like us using it with our own risk because we love to use it and we are not involve in any crime using cryptocurrency. Hopefully government will think about it with some positive aspects.

Sithara007

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Quote from: Stedsm on December 14, 2020, 12:56:33 PM

I think that when you (Gov) know about your country's economic health and see that crypto has a wide range of services available as well as can bring in enough opportunities to the youth of their country if they allow crypto exchanges to operate there. I believe it can also help strengthen their GDP and can also gain some extra momentum as one whole country starts accepting it, so it'll be a win-win for both the ends.

The governments still believe that allowing cryptocurrency trading would be more harmful for them, compared to any potential gains. In none of the South Asian nations, Bitcoin is 100% legal. In India, recently an individual was arrested from the city of Bangalore, for trying to install a Bitcoin ATM. Nepal and Bangladesh have banned all cryptocurrency activity and arrested those who have traded with cryptocurrencies.

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I think that when you (Gov) know about your country's economic health and see that crypto has a wide range of services available as well as can bring in enough opportunities to the youth of their country if they allow crypto exchanges to operate there. I believe it can also help strengthen their GDP and can also gain some extra momentum as one whole country starts accepting it, so it'll be a win-win for both the ends.

Vishnu.Reang

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Quote from: Renampun on December 14, 2020, 11:29:17 AM

What makes me interested in this news is the possibility that other countries will follow Bangladesh...
it is not easy to accept cryptocurrency, so if any country accepts it is a great thing. if it proves to be successful then there is no doubt that the surrounding countries will definitely follow it.

There is still no confirmation about this. I have checked the mainstream media from Bangladesh, including bdnews24 and The Daily Star. This news was not mentioned anywhere. I am getting suspicious, because as recently as 2019 there were reports of cryptocurrency traders getting arrested in Dhaka. And there are not many Bitcoin-based businesses there. Bitcoin ATMs and exchanges are not allowed.

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Quote from: Renampun on December 14, 2020, 11:29:17 AM

Quote from: Swopon on November 30, 2020, 02:14:19 AM

...

What makes me interested in this news is the possibility that other countries will follow Bangladesh...
it is not easy to accept cryptocurrency, so if any country accepts it is a great thing. if it proves to be successful then there is no doubt that the surrounding countries will definitely follow it.

This all is not easy as we are thinking because right now many issues and policies which need to be implemented for this all then they will able to have this all but sadly politicians also not doing good as they don't want to give some good and better ways to common peoples they want to live like landlords and their necessity is peoples live like their slaves which is bringing some serious mind games they have ability to do some really good and have some good name in region but poor system.

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In my own opinion, it is easy to understand for this kind of country which is Bangladesh that they don't want to be loved by another color suchlike P2P or part of cryptocurrency is because it's all about their own priority business, Perhaps, they may be able to blame so that the leaders of their government providers need people remains foolish to be easily obsessed anytime to control their mindset. Basically, it is brain down like a random strategy for people's loyalty to become an enemy and still contradicts what is best. but I believe the day will come when they will also understand the importance of crypto.

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Quote from: Swopon on November 30, 2020, 02:14:19 AM

...

What makes me interested in this news is the possibility that other countries will follow Bangladesh...
it is not easy to accept cryptocurrency, so if any country accepts it is a great thing. if it proves to be successful then there is no doubt that the surrounding countries will definitely follow it.

Topic: Is Bangladesh going to accept Cryptocurrency??? - page 2. (Read 1105 times)