Bangladesh police chase Bitcoin users

Amidst a very different landscape from that of North America and Europe, the Bangladeshi police authorities are in a fierce persecution against Bitcoin users in that country, because both the use and the commercialization of the cryptocurrency are still illegal in the country. nation. The central bank of the Asian country is urging other commercial banks to distrust people who use the virtual currency.

A senior official said that soon, a report on cryptocurrencies will be sent to the country's Ministry of the Interior. Meanwhile, the use of virtual currencies is being monitored by the Foreign Exchange Police Department and other government agencies.

Similarly, the government of Bangladesh warns people not to do transactions with bitcoins, establishing that the cryptocurrency "is not legal tender" anywhere in the world, although in nations of the region, such as Japan, the virtual currency It is already a mechanism approved by the law of that country.

Application of the law

At this time, efforts to prosecute and punish Bitcoin users come from the Bangladesh Financial Intelligence Unit (BFIU), whose members have already met four times with staff from the Foreign Exchange Police Department to discuss the situation. .

According to a statement issued by the Bangladesh Financial Intelligence Unit (BFIU):

The banks and other financial organizations in the country have received orders to strictly monitor the cryptocurrency trade. Soon a circular detailing the matter will be sent.

There is no way to buy these currencies legally through banking channels. Computer crime investigators are working on the matter.

Regarding this point, Nazmul Islam, assistant deputy commissioner of the Cyber ​​Crimes Unit, has stated: "We have already located some bitcoin users and we are still searching. Investigating the cryptocurrency trade is a complex issue.

The severe penalization of the use of cryptocurrency in Bangladesh has contributed in some way to discourage enthusiasm for it. However, despite the fact that the national government is taking strict measures against users, it does plan to implement its own virtual currency in the future.

This is according to the statements of S. K. Sur Chowdhury, advisor to the Bank of Bangladesh, who, during the Digital World 2017 conference, stated that:

A committee composed of central bank officials, governmental and non-governmental financial organizations will be formed. With this alliance, we will create and implement a digital (own) currency in Bangladesh.

At the moment, the picture looks murky for users of the cryptocurrency in the Asian country, who must remain discreet and alert to the police deployment.