Bangladesh: Bitcoin usage considered "punishable offence"

Friday 19 September 2014 09:19 CET | News

Central Bank of Bangladesh has decided to pursue legal action against consumers who use Bitcoin, online media outlet Bitcoin Examiner unveils.

The institution, which oversees the country’s underdeveloped banking system, claims the penalties are included in Bangladesh’s strict anti-money laundering laws. According to the source, the sudden warning was issued after the bank acknowledged the existence of reports in local media regarding Bitcoin transactions in Bangladesh performed through online exchange platforms.

Bitcoin has been banned in Ecuador and Bolivia and faced severe restrictions on its use in other countries, notably China, as governments scramble to formulate their approaches to the new form of money. Russia also revealed its definitive plans to ban Bitcoin and all other cryptocurrencies by 2015.

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Keywords: Bitcoin, cryptocurrencies, online transactions, anti-money laundering
Categories: DeFi & Crypto & Web3
Countries: World
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DeFi & Crypto & Web3

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