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Bangladesh vs Libya

Crypto regulation comparison

← Back to map | Bangladesh | Libya
Bangladesh

Bangladesh

Libya

Libya

Banned
Banned

Bangladesh effectively bans cryptocurrency. Bangladesh Bank issued warnings in 2017 citing anti-money laundering laws, and the Foreign Exchange Regulation Act 1947 prohibits unapproved digital currency transactions. Violations can result in imprisonment up to 12 years.

Libya has a restrictive stance on cryptocurrency. The Central Bank of Libya has warned against crypto use. Political instability and a divided government complicate any regulatory development.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges No No
Mining No No
Mining No No
Regulator Bangladesh Bank
Regulator Central Bank of Libya
Stablecoin Rules Not applicable; all crypto transactions are prohibited
Stablecoin Rules No stablecoin regulation
Key Points
  • Bangladesh Bank issued a 2017 notice warning against crypto transactions
  • Foreign Exchange Regulation Act 1947 used to prohibit crypto dealings
  • Money Laundering Prevention Act 2012 applies to crypto-related activities
  • Penalties can include up to 10 years imprisonment and fines up to 3 million BDT
  • Despite the ban, some peer-to-peer trading occurs underground
Key Points
  • Central Bank of Libya has warned against cryptocurrency use
  • No specific cryptocurrency legislation
  • Political instability limits regulatory development
  • Crypto used informally despite restrictions
  • No licensed crypto exchanges operate
Sources
Sources
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