Bangladesh Bank has officially reconfirmed its strict prohibition on the trading, purchase, sale, exchange, and transfer of cryptocurrencies or virtual currencies within the country. Under the latest central bank directives, no individual or financial institution is permitted to facilitate or assist in any virtual asset transactions.
The Foreign Exchange Policy Department of Bangladesh Bank issued a formal circular on Thursday, October 29, 2026, instructing all commercial banks and financial institutions to exercise heightened vigilance and strengthen monitoring of customer accounts to block cryptocurrency-related transactions. The directive will remain active for one year from the date of issuance. The prohibition has been integrated into the consolidated foreign exchange policy manual, alongside guidelines governing Authorized Dealer (AD) bank transactions, Asian Clearing Union (ACU) settlements, Nostro account reconciliations, and forward trade hedging.
Read nextYahya Mirza Elected PRAB President, Nazrul Islam Named General SecretaryReiterating its legal stance, Bangladesh Bank highlighted that virtual currencies are not recognized as legal tender under the Foreign Exchange Regulation Act of 1947. Because virtual assets carry no sovereign backing or guarantee from any government, their rapid price volatility poses severe financial risks to investors and exposes the economy to illicit capital flight. Despite legal bans, global blockchain analytics firm Chainalysis released 'The 2026 Geography of Crypto Report' analyzing 117 nations, which ranked Bangladesh 56th worldwide in grassroots cryptocurrency adoption, while neighboring India ranked 6th, Pakistan 25th, and Sri Lanka 82nd.
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Reported by Staff Reporter • Edited by the Daily Best News desk. Send corrections to [email protected].
