Regulatory Alerts2022-10-12
Added
BRPD Circular Letter No. 40: Prohibition regarding dealing of virtual assets & virtual currencies and facilitating their exchange/transfer/trading
The document instructs all scheduled banks in Bangladesh to immediately cease facilitating transactions, purchases, sales, or exchanges of virtual currencies and virtual assets through foreign Virtual Asset Service Providers (VASPs) using customer bank accounts. Banks are required to enhance monitoring activities, display notices in accessible locations, publish the directive on their websites, and inform trainees in all training programs about the prohibition. This directive is issued under the authority of Section 45 of the Bank Company Act, 1991, to mitigate potential financial and legal risks.