By Faenos - 22.02.2020
Bitcoin to bank account bangla
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The warning bitcoin to bank account bangla caution towards transacting in any artificial currency as this could involve unauthorised actions stated in Bitcoin to bank account bangla Exchange Regulation Act, and the Money Laundering Prevention Act, The central bank expressly disapproved any transaction of cryptocurrencies by stating that these virtual currencies were not legal tender issued by any country and it does not depend on and is not approved by a central payment system, as such, people may be financially harmed by it.
While the recent notice reiterates the laws mentioned in the first notice, it added the Anti-Terrorism Act, as another law that use of bitcoin could violate. Moreover, citizens were asked to see more bitcoin to bank account bangla performing, assisting and advertising all kinds of transactions through the virtual currencies such as Bitcoin, Ethereum, Ripple and Litecoin to avoid financial and legal risks.
It could be argued that the use of regular currency to commit crimes under the same Acts would be similarly https://magazin-id.ru/account/how-to-delete-my-binary-account.html, and as such while bitcoin bitcoin to bank account bangla is not illegal, its use to commit crime is.
Bangladesh Bank's declaration that it is not legal bitcoin to bank account bangla to bitcoin to bank account bangla account bangla finds resonance with the regulatory response in most countries.
However, it could be argued that bitcoin not being accepted or recognised as legal tender does not necessarily make it illegal.
The Foreign Exchange Regulation Act and Money Bitcoin to bank account bangla Prevention Act bitcoin to bank account bangla provisions for punishment and criminal liability, for trading, importing, and exporting currencies without authorisation of the Bangladesh or if not performed through an authorised dealer, and for illegally laundering proceeds of crime or foreign currency.
That being the case, criminal offences relating to trading foreign currency without authorisation, arguably do not explicitly catch bitcoin or cryptocurrencies.
According to section 2 s of bitcoin to bank account bitcoin to bank account bangla Money Laundering Prevention Act, foreign currency means any foreign exchange defined under section 2 d of the Foreign Exchange Regulation Act.
The warnings also refer to the Anti-Terrorism Act which criminalises funding of terrorism, but the Act does not make any reference to bitcoin, cryptocurrency bitcoin to bank account bangla bitcoin to bank account bangla other currency whatsoever.
Despite Bangladesh Bank's warnings discussed above, the Acts of Parliament which they apparently are based upon, fall short of criminalising or even banning bitcoin or crytocurrency.
However, the fact remains that Bangladeshi authorities are adamant to stop the use of bitcoin and are reportedly hunting bitcoin traders and miners. In the bitcoin to bank account bangla of the global trend in the use of cryptocurrency, it is high time that Bangladesh comes up with bitcoin to bank account bangla properly formulated regulatory response to bitcoin instead of going after users on an ad hoc basis.
It is also vital for the central bank and lawmakers to join the global discussion on regulating cryptocurrency immediately and participate in concerted efforts to ensure that the use of this new technology is only for the good of the society and bitcoin to bank account bangla.
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