Cryptocurrency Ban in Bangladesh: What It Means for Users and Traders

When the cryptocurrency ban in Bangladesh, a strict government policy prohibiting the use, trading, or holding of digital currencies like Bitcoin and USDT. Also known as crypto prohibition, it was enforced by the Bangladesh Bank in 2015 and reinforced in 2017 and 2021. This isn’t just a rule—it’s a legal wall. Banks, payment processors, and fintech apps are required to block any transaction linked to crypto. If you try to send Bitcoin through a local bank, your account gets flagged. If you use a peer-to-peer app to buy USDT, you risk fines, account closure, or even criminal charges.

The ban wasn’t about stopping innovation. It was about control. The central bank feared losing oversight over money flows, worried about money laundering, and didn’t want citizens bypassing foreign exchange limits. But here’s the twist: people kept trading anyway. Offline cash deals, encrypted messaging apps, and cross-border P2P platforms became the new underground banks. A 2023 report from Chainalysis showed Bangladesh ranked in the top 20 countries for peer-to-peer crypto volume—despite the ban. That’s not a glitch. It’s a response. When formal systems fail, people build their own.

This ban also connects to other countries with similar rules. Myanmar, a neighboring nation that also bans crypto and shuts down bank accounts for traders, shows what enforcement looks like in practice. In both places, the government is racing to launch its own digital currency while crushing alternatives. Meanwhile, Iran, a country where crypto became a lifeline during economic collapse, proves that when trust in banks vanishes, people turn to decentralized systems—even if it’s risky.

So what does this mean for you if you’re in Bangladesh? You can’t use Binance, Coinbase, or local exchanges legally. But you can still buy crypto with cash from trusted contacts, store it in a hardware wallet, or use it for cross-border remittances through informal networks. The risk is real, but so is the need. Thousands of people rely on crypto to send money home, protect savings from inflation, or access global markets when banks won’t let them.

The posts below dig into real cases: how traders stay under the radar, what happens when your account gets frozen, why USDT is the most common workaround, and how people in similar countries like Myanmar and Iran are handling the same pressure. You won’t find legal advice here. You’ll find what’s actually happening on the ground—because the rules don’t always match reality.