Jurisdiction reference
Bangladesh
Regulator: Bangladesh Bank. License/registration context: Ban. 11 VASP/entity records are tracked by Plexo Institute in Bangladesh. Official registry source: source validation pending. Data last updated: 2026-09-30.
Bangladesh maintains an active, enforced regulatory framework that prohibits all virtual assets and virtual currencies, which implicitly encompasses all types of stablecoins. Under FE Circular No. 24 (September 15, 2022), Bangladesh Bank prohibits all transactions in virtual assets and virtual currencies as defined by the Financial Action Task Force (FATF). While stablecoins are not explicitly mentioned by name, they meet the FATF definition of virtual assets as digital representations of value that can be digitally traded or transferred. The regulatory foundation rests on Section 5(1)(e) of the Foreign Exchange Regulation Act, 1947, treating virtual assets as violations of foreign exchange controls. The framework excludes only "digital representations of fiat currencies, securities and other financial assets, recognized by Bangladesh Bank," meaning CBDCs would fall outside the prohibition if formally recognized. Violations constitute cognizable offenses under Section 23(1) of the FER Act, 1947, subject to imprisonment and fines.
Regulatory Status
- Jurisdiction code
- BD
- Regime
- Ban
- Regulator
- Bangladesh Bank
- Governing law
- Bangladesh Bank notice 2017
- Tracked entities
- 11
- Yield-bearing stablecoins
- Restricted
- Currency
- BDT
Regulatory approach
Bangladesh Bank, established in 1971 as the central bank of Bangladesh, is the primary regulatory authority for the country's banking, financial system, and foreign exchange controls. The bank's Foreign Exchange Policy Department (FEPD) issues binding circulars that enforce the foreign exchange control regime. Bangladesh Bank applies the Foreign Exchange Regulation Act, 1947 to classify and prohibit virtual assets broadly, without specifically naming stablecoins. The bank adopts the FATF definition of virtual assets, which encompasses all cryptocurrencies and stablecoins as digital representations of value. Bangladesh Bank does not distinguish between different types of virtual assets or stablecoins; all fall under the same blanket prohibition. The bank coordinates with the Bangladesh Financial Intelligence Unit (BFIU) for enforcement, monitoring, and investigation of violations. Banks, authorized dealers of foreign exchange, mobile financial services (MFS) providers, and all financial institutions are mandated to prevent virtual asset transactions and report violations. Bangladesh Bank is exploring a Central Bank Digital Currency (CBDC) framework as a long-term alternative to address digital currency needs within a regulated environment. The bank's regulatory approach prioritizes foreign exchange stability, capital control enforcement, and consumer protection against unregulated digital assets.
Stablecoin laws in Bangladesh
Primary legal texts Plexo Institute tracks for Bangladesh.
- FE Circular No. 24 (Prohibition regarding virtual assets, virtual currencies and facilitating their exchange/transfer/trading) (enacted 2022-09-15)
This is the primary enforceable regulation that prohibits all transactions in virtual assets and virtual currencies (which encompasses stablecoins by definition). The circular adopts the FATF definition of virtual assets as "a digital representation of value that can be digitally traded or transferred and used for payment or investment purposes." It explicitly prohibits any transactions made in/from/to Bangladesh for obtaining virtual assets or virtual currencies, as well as providing any facilitation for exchange/transfer/trading of such assets. The circular clarifies that virtual assets are neither approved foreign exchange/currency nor approved forms of transactions/investments under Section 2(aa) and 2(bb) of the FER Act, 1947. It excludes only "digital representations of fiat currencies, securities and other financial assets, recognized by Bangladesh Bank" from the prohibition.
Relationship Graph
Jurisdiction FAQ
Who regulates Bangladesh?
The current Plexo Institute record lists Bangladesh Bank as the regulator for Bangladesh.
How many VASPs are tracked in Bangladesh?
11 VASP/entity records are tracked by Plexo Institute in Bangladesh.
What is the Travel Rule status in Bangladesh?
The current Plexo Institute record lists the Travel Rule status for Bangladesh as N/A.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: source evidence missing.
Source validation is still required before this page can move from noindex to an opened crawler cohort.