DHAKA:The Bangladesh Bank (BB) Monday cautioned the people about the risk of transaction by using bitcoin and warned that such transaction would be tantamount to illegal activities as well as punishable offence under the existing law, reports BSS.
The BB in a statement said the bitcoin is not a legal tender as it is not regulated or issued by a central bank of any country. The statement issued against the backdrop of media reports about increasing use of the crypto currency particularly in online transactions.
The central bank suggested people to refrain from using the crypto currency in any kind of transaction including online trading, and cautioned that such transaction would cause the persons concerned to incur huge loss and to be behind the bar. The BB also said transaction by crypto currency like bitcoin is a punishable offence under the Foreign Exchange Regulation Act, 1947 and the Money Laundering Prevention Act 2012.