{"id":305971,"date":"2021-09-24T10:26:36","date_gmt":"2021-09-24T14:26:36","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=305971"},"modified":"2021-09-24T10:46:18","modified_gmt":"2021-09-24T14:46:18","slug":"retrospective-in-2014-bangladesh-was-promising-to-imprison-citizens-holding-bitcoin","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/retrospective-in-2014-bangladesh-was-promising-to-imprison-citizens-holding-bitcoin","title":{"rendered":"Retrospective: In 2014 Bangladesh Was Promising to Imprison Citizens Holding Bitcoin"},"content":{"rendered":"
\n

In September 2014,\u00a0<\/strong> Bangladesh\u2019s central bank warned anyone caught using the digital currency to be jailed.<\/p>\n<\/div>\n

\n

\u00a0Bitcoin was unwelcome in Bangladesh. The country\u2019s central bank warned that anyone caught using the digital currency will be jailed.<\/p>\n

The destitute South Asian country has strict anti-money laundering laws and was looking to shut down Bitcoin exchanges that allow trading of the cryptocurrency.<\/p>\n

In 2014, The Bangladesh Bank issued the stern statement through local media: \u201cBitcoin is not a legal tender of any country. Any transaction through Bitcoin or any other cryptocurrency is a punishable offense,\u201d the statement said, according to the Agence France-Presse<\/em><\/a>. Bank officials told AFP violators could be sentenced to up to 12 years in jail.<\/p>\n

Up to that date, Bangladesh has been roiled by social unrest, poverty, climate change, and famine.<\/p>\n

Nonetheless, in 2014, a Bangladesh bitcoin group became the first Asian affiliate to join the Bitcoin Foundation. The affiliate stated a goal to offer \u201cbitcoin education and resources in Bengali, the official language, and encourage adoption among merchants and consumers.\u201d<\/p>\n

And by 2021, the status of the cryptos in Bangladesh is much better. According to DhakaTribune<\/a>:<\/p>\n

“Owning cryptocurrencies or carrying out virtual transactions and trade through them is not a criminal offense, the Bangladesh Bank recently said in a letter to the Criminal Investigation Department (CID).”<\/p>\n

This essentially means that only people using Bitcoin for illegal activities such as money laundering will be charged and imprisoned.<\/p>\n

Read more:\u00a0<\/strong><\/p>\n

How to buy Bitcoin with a credit card<\/a><\/p>\n

 <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In September 2014,\u00a0 Bangladesh\u2019s central bank warned anyone caught using the digital currency to be jailed. \u00a0Bitcoin was unwelcome in Bangladesh. The country\u2019s central bank […]<\/a><\/div>","protected":false},"author":1822,"featured_media":283204,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-305971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"\nRetrospective: In 2014 Bangladesh Wanted to Jail Citizens Holding Bitcoin<\/title>\n<meta name=\"description\" content=\"In September 2014,\u00a0 Bangladesh\u2019s central bank warned anyone caught using the digital currency to be jailed. \u00a0Bitcoin was unwelcome in Bangladesh. 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