Cryptocurrency illegally Cause of...
Bangladesh's central bank, Bangladesh Bank, says there are legal and financial risks to using cryptocurrency. Bitcoin, Etherium, XRP, Lightcoin and many more cryptocurrency currencies are being traded in different parts of the world. These virtual currencies do not issue any legitimate authority to a country. So there is no financial claim against this currency. Therefore, Bangladesh Bank does not approve these virtual currencies. The laws that do not legalize cryptocurrency in Bangladesh are: 1948: Anti-Terrorism Act, 2009: Anti-Money Laundering Act, 2012: Does not support. Payments and settlements are made in virtual currency on online networks. Bangladesh Bank urges all to assist in the transaction of virtual currency or to refrain from any kind of propaganda in favor of it to avoid financial and legal risks in Bangladesh. The current virtual currency market in the world is 2 trillion US dollars. Currently, Japan, Singapore, the United Arab Emirates and the United States have decided to legalize cryptocurrencies.
Bangladesh's CID says cryptocurrency is a reality here and there is no chance of avoiding it. The problem with giving legitimacy is that there is a chance of crime because the users are not identified. There is an opportunity to smuggle Bangladeshi money abroad. We need to think about how to accept cryptocurrency while keeping our own interests intact.
Syed Mahbubur Rahman, former president of ABB, said people still do not know what the currency is. So they may be deceived. There is no specific information on how cryptocurrency works. If someone buys this coin for 1 dollar, tomorrow it will be able to go for 100 dollars. The way it is doing business now, someone is buying or someone is selling. It will be used in money laundering as there is no control. So, we are not even close to approving it. Therefore, there is no question of giving it legitimacy.
Mr. Tawfiq Ahmed Chowdhury, former Director General of BIBM, said that the number of credit cards in our country is still only 17 lakh. Of which 1 to 3 have 4 credit cards. If you do this calculation, the number of credit cards will be reduced from 5 to 6. In this case, the problem will increase if cryptocurrency is introduced. Cryptocurrency is also banned in our neighboring countries. Again many people in our country can't sign checks, how can this kind of currency work there.
Cryptocurrency is illegal in Bangladesh as well as 9 other countries including Saudi Arabia. However, cryptocurrency is legal in many other countries, including the United States. In 2013, countries like Australia declared cryptocurrency legal.
If this post help you please do Like, Comment and Share.
0 Comments