Bangladesh Central Bank: Cryptocurrency Use is a ‘Punishable Offense’

PN

CoinDesk
Sept 16, 2014

Update (17th September 3:00 BST): A full translation of the statement from the Bangladesh Bank has been added to the piece.


Bangladesh The central bank of Bangladesh has issued a new statement suggesting that the use of digital currency is now illegal in the country.

The Bangladesh Bank, as originally reported by the Agence France-Presse (AFP), has said that the use of bitcoin and other cryptocurrencies is unlawful under existing anti-money laundering (AML) statutes.

The Bangladesh Bank noted in its advisory that harsh penalties could be imposed on those who use digital currencies, saying:

“Bitcoin is not a legal tender of any country. Any transaction through bitcoin or any other cryptocurrency is a punishable offense.”

AFP also reportedly spoke to a representative from the bank, who said that the act of using a digital currency could be punishable by as much as 12 years in prison.

Bangladesh recently…

View original post 58 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s