#CryptoRegulation Bangladesh has a strict stance against cryptocurrency. The Bangladesh Bank, the country's central bank, has repeatedly warned the public that cryptocurrencies like Bitcoin are not legal tender and that any transactions involving them could violate existing laws, particularly the Foreign Exchange Regulation Act of 1947 and the Money Laundering Prevention Act of 2012.

Here's a more detailed breakdown of the situation in Bangladesh:

* No Legal Recognition: Cryptocurrencies are not recognized as legal currency or an approved form of transaction or investment by the Bangladesh Bank.

* Warnings Issued: The central bank has been issuing warnings against the use of cryptocurrencies since 2014, highlighting risks related to money laundering, terrorist financing, and financial instability.

* Lack of Licensing: There is no official licensing or registration for cryptocurrency businesses in Bangladesh. Operating crypto exchanges or brokerage platforms can lead to prosecution under existing financial and anti-money laundering laws, effectively making them illegal.

* Trading Despite Warnings: Despite the official warnings and lack of legal framework, cryptocurrency trading persists in Bangladesh through online platforms, with Binance being a popular choice. Users often fund their accounts using mobile banking services like bKash and Nagad.

* "Legal Grey Zone": While not explicitly banned by a specific law, the existing financial regulations create a risky environment for cryptocurrency trading.

* Blockchain Recognition: Interestingly, in 2020, Bangladesh released its National Blockchain Strategy, acknowledging the importance of blockchain technology for the country's digital future. However, this recognition hasn't translated into a favorable stance on cryptocurrencies.

* Enforcement of KYC/AML: While the Bangladesh Bank does not monitor or enforce Know Your Customer (KYC) rules for cryptocurrencies, international platforms like Binance and Bybit do enforce these rules on their users in Bangladesh.

Global Crypto Regulation Landscape (as of May 15, 2025