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.
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.
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