Circular 2022 status not recorded
Foreign Exchange Policy Department, FE Circular No. 24 of 15 September 2022: Prohibition regarding virtual assets and virtual currencies
Issued by Bangladesh Bank
Summary
Addressed to scheduled banks, authorised dealers, mobile financial service providers, financial institutions and others dealing in foreign exchange. It tells them to refrain from dealing in virtual assets and virtual currencies and from facilitating their exchange, transfer or trading, and bars retaining export proceeds abroad in any form. It cites the Foreign Exchange Regulation Act 1947, ss.2, 5(1)(e), 20(3) and 23(1).
Topics: AML / CFT / Sanctions Payments & Fintech / Digital Assets
Who it applies to
Banking · NBFC / Non-bank Lending · Payments & Fintech · Crypto / VDA
Obligations arising from this law or regulation
| Obligation | Timing | Regulator | Source | Detail |
|---|---|---|---|---|
| Refrain from dealing in or facilitating virtual assets and virtual currencies | Continuous prohibition | BB | official | |
FE Circular No. 24 of 15 September 2022 tells banks, authorised dealers, mobile financial service providers and financial institutions to refrain from dealing in virtual assets and virtual currencies and from facilitating their exchange, transfer or trading. It also bars retaining export proceeds abroad in any form, including crypto. No licensing route for virtual asset service providers was found. |
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| No obligations match these filters. | ||||
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