The crypto market has skyrocketed since Tesla, the world's richest Elon Musk company, announced that it will invest 1.5 billion USD in cryptocurrencies. After this announcement, the highest bitcoin price has risen to about 4 million Bangladeshi rupees.
And just when Tesla announced they would no longer sell products with the exception of cryptocurrencies, the price of bitcoin dropped by half. Tesla CEO Elon Musk has a hand in moving the market up and down. This has had a huge impact on many traders. Those who trade cryptocurrency with little capital are at a huge loss.
What is the status of this digital currency in Bangladesh?
Bitcoin or any cryptocurrency is considered illegal in our country. However, various third party websites are buying and selling illegally. Bangladesh Bank, the first and largest bank in Bangladesh, has declared it illegal to use, trade and store cryptocurrencies.
A few days ago, Bangladesh Bank issued a notification warning about transactions in Bitcoin. It said that since virtual currency is not issued by the legitimate authorities of any country, there is no recognition of financial claims.
Bangladesh Bank has warned that transactions in virtual currencies could violate money laundering and terrorism financing laws. So no one in our country openly trades or trades bitcoin. If one day cryptocurrency is legalized in our country, then our country will be considered as digital Bangladesh.
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