Using Bitcoin in Bangladesh is now an offence punnishable by up to 12 years in prison.

It has been reported by the AFP (Agence France-Presse)  that use of crypto-currencies such as bitcoin is now illegal in Bangladesh and punishable by up to 12 years in prison.

This announcement comes on the back of a surge in interest in the currency. It comes on the back of the recent formation of the Bangladeshi chapter of the bitcoin foundation.

Bangladesh is the latest of several developing nations to completely ban or restrict the use of bitcoins. Bolivia and Ecuador in South America have also banned bitcoins (although Ecuador is apparently producing it’s own digital currency.)

In my opinion these extreme steps just validate the fact that bitcoin is indeed a disruptive technology with the real potential for change. Otherwise there would not be the need to legislate against it.

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