Bangladesh Bank has issued a warning about Bitcoin!!
Bangladesh Bank, central bank of Bangladesh has issued a warning in exchange to virtual currency online. In this case, the bank specifically mentions Bitcoin.
Bitcoin is a kind of crypto-currency or virtual currency which is now most promising. Although in reality, it does not exist. It is possible to buy or sell a coin through the internet system. Some people have developed it using the Internet system.
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Due to the rising price of the Bitcoin, the bank is trying to bring the matter to the public by publishing advertisements in various newspapers in Bangladesh. They said that in economics it is a kind of gambling on which somebody may be beneficial from bitcoin and many people will loss. Now, many people are attracted to it.
According to the Bangladesh Bank, they said there is no recognition of the financial demand, as the virtual currency does not issue legal authority of any country. The bank warned that virtual currency transactions may violate money laundering and terror financing laws.The central bank of Bangladesh has said that there is financial and legal risk through such transactions.
In response to a question about whether the goods or services can be bought with the bitcoin. Ahsan Mansur, an economist of Bangladesh, told BBC Bangla a few days ago, yes it can be bought. If there is a provision to provide such goods or services to a person, then he can sell it for the exchange of Bitcoin. It is possible to buy and sell online through Bitcoin online as we are shopping on e-payment systems.
Regarding the reason for the price rise recently, he said that in one year the prices rose up to 100 to 1 thousand dollars. Then within a few months, its price has risen to $ 19,000. It is not Rational Behavior.
He said, many people here are now investing in this for more money. In such a case, when these people suddenly withdrew from the market, many would be in danger.
It's about damn time!
When Bangladesh Bank warns about something, you know it's a good thing to look into.
This is the bank that had billions of dollars stolen by inside hackers, and the only reason it wasn't more was because... they can't spell!
Thank you for your comments! As far i know many country and central Bank also concern about that. BB has less capacity to control it where they lost billion dollar by hackers.
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