Bangladesh Bank officials have again issued a warning pertaining to cryptocurrencies, this time seeking to deter the country’s banks from providing services to bitcoin users.
An official from the Bangladesh Financial Intelligence Unit (BFIU) told reporters that “Banks and other financial organizations of the country have been ordered to maintain a strict vigil on cryptocurrency trading. A circular will soon be sent out detailing the matter,” adding “There is no way to purchase these currencies legally through banking channels. Cybercrime investigators are working on the matter.”
Bangladeshi Authorities on “Hunt” for Bitcoin Traders
Investigators from the BFIU are reported to “have already begun to look for bitcoin traders,” with the Bangladesh Telecommunication Regulatory Commission (BTRC) allegedly aiding said investigations. Officials representing the BFIU and BTRC have held four meetings regarding cryptocurrency so far.
Nazmul Islam, the assistant deputy commissioner of Bangladesh’s cybercrime unit, stated “We have already located a few bitcoin users, and are on the hunt for more, along with a few web pages which are being checked for authenticity. Investigating cryptocurrency trading is a complex matter.”
A high ranking official from Bangladesh’s central bank also indicated that the country’s Foreign Exchange Police Department, among other state institutions, is actively monitoring bitcoin – with a report soon expected to be delivered to the Ministry of Home Affairs regarding the impacts and potential policy ramifications of virtual currencies.
Cryptocurrency Use Prohibited in Bangladesh
Local media has reported that “the trading and usage” of cryptocurrency remains “rampant” in Bangladesh, despite the central bank’s announcement at the end of 2017, revealing the country’s prohibition on bitcoin use.
In addition to groups devoted to facilitating peer to peer trading proliferating on social media platforms, Dhaka Tribune states “Localbitcoins.com says that [crypto]currencies are being traded in Bangladesh through banks, bKash, Rocket, and other methods of mobile banking.”
What is your response to Bangladeshi authorities seeking to “hunt” bitcoin traders? Share your thoughts in the comments section below!
Read more: news.bitcoin.com
Is the crypto currency bubble bursting now?
The cryptocurrency Bitcoin has temporarily lost more than ten percent on Wednesday. Thus, the cyber money has fallen to the lowest level for a week.
Why the Bitcoin is falling down? The price is also nearly one-fifth below the record of $ 19,666, which was marked only three days ago. The issuance of two futures makes it easier for institutional investors to invest in the currency, said Makoto Sakuma of the research institute NLI in Tokyo. In addition, they made it possible to bet on falling prices.
Japanese influencers sell.
Then there’s a well-known Japanese retailer who told Twitter over the past 24 hours that he had sold Bitcoin. An estimated 30 to 50 percent of all Bitcoin investors are Japanese individuals. “Because this trader has many followers, his tweets could have an impact on Japanese traders, which in turn could have moved the market,” Sakuma said.
Since the beginning of the year Bitcoin has increased by 19 times. That wakes worries about a bubble. Denmark’s central bank chief Lars Rohde even compared Bitcoin with tulip mania in the 17th century. At that time, the prices for tulip bulbs in the Netherlands had shot to astronomical heights. When the bubble burst, many people lost their fortunes. source: blick.ch
Todays digital coin price. Cryptocurrency rate for today | Bitcoin Ethereum Ripple and more digital currency rate|Bitcoin and Altcoin Prices|
Today Cryptocurrency news:
What’s Trump tweeting today:
We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!
— Donald J. Trump (@realDonaldTrump) 4. April 2018
Bitcoin market cap falls below $100 billion for first time since October 2017
on 15. November 2018 at 2:31
Bitcoin market cap falls below $100 billion for first time since October 2017 CNBCWhat Does It Take to Buy Cryptocurrency? - The Beginner's Guide centraljersey.comFull coverag […]
What Triggered Bitcoin's Sharp Price Plunge?
on 14. November 2018 at 23:39
What Triggered Bitcoin's Sharp Price Plunge? ForbesFull coverag […]
Earnings Season: Traders Shift From Cooling Crypto Market to Volatile Stocks
on 14. November 2018 at 23:04
Earnings Season: Traders Shift From Cooling Crypto Market to Volatile Stocks BitcoinistFull coverag […]
The Crypto Market Just Fell to a New 2018 Low
on 14. November 2018 at 22:44
The Crypto Market Just Fell to a New 2018 Low CoinDeskBitcoin Price Falls Below $6200 for the First Time in a Month as Bearish Pressure Builds HackedFull coverag […]
BlockMarkets.io launches cryptocurrency market data feed API
on 14. November 2018 at 22:43
BlockMarkets.io launches cryptocurrency market data feed API CryptoNinjasFull coverag […]
Markets See Massive Sell-Off, Bitcoin Dips Below $5600 for the First Time in 2018
on 14. November 2018 at 20:43
Markets See Massive Sell-Off, Bitcoin Dips Below $5600 for the First Time in 2018 CointelegraphFull coverag […]
FLASH CRASH: 10% Of Cryptocurrency Market Cap Wiped Out: BTC Hits 2018 Low
on 14. November 2018 at 19:04
FLASH CRASH: 10% Of Cryptocurrency Market Cap Wiped Out: BTC Hits 2018 Low CryptoGroundFull coverag […]
For the first time, teens want Fortnite 'V-Bucks' and cryptocurrency instead of cash
on 14. November 2018 at 17:33
For the first time, teens want Fortnite 'V-Bucks' and cryptocurrency instead of cash MarketWatchFull coverag […]
No More Hype: Time To Separate Crypto From Blockchain Technology
on 14. November 2018 at 17:26
No More Hype: Time To Separate Crypto From Blockchain Technology ForbesWhat Morgan Stanley's predictions mean for crypto entrepreneurs Innovation EnterpriseFull coverag […]
Bitcoin And Crypto Market Plummets--Dealing Blows To Ripple (XRP), Ethereum, And Bitcoin Cash
on 14. November 2018 at 16:37
Bitcoin And Crypto Market Plummets--Dealing Blows To Ripple (XRP), Ethereum, And Bitcoin Cash ForbesBitcoin (BTC) Crash! Price Plummets to One-Year Low as Cryptocurrency Market Sees Red Ethereum World News (blog)Bitcoin plummets under $6000 to a new low for the year after months of stability CNBCFull coverag […]
A New Hedge Fund Is Betting On Bitcoin Adoption--And Has The Data To Back It Up
on 14. November 2018 at 16:15
A New Hedge Fund Is Betting On Bitcoin Adoption--And Has The Data To Back It Up ForbesFull coverag […]
Cryptocurrency Market to Reach US$6.70 bn by 2025; Absence of Third-Party Intermediary Triggers Demand - TMR
on 14. November 2018 at 11:27
Cryptocurrency Market to Reach US$6.70 bn by 2025; Absence of Third-Party Intermediary Triggers Demand - TMR PR Newswire UK (press release)Full coverag […]