Bangladesh vs Palau
Crypto regulation comparison
Bangladesh
Palau
Banned
Legal
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.
Palau has explored blockchain technology and launched a stablecoin program in partnership with Ripple. No income or capital gains tax.
Tax Type
Unclear
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Bangladesh Bank
Regulator
Financial Institutions Commission
Stablecoin Rules
Not applicable; all crypto transactions are prohibited
Stablecoin Rules
No specific 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
- Exploring national stablecoin in partnership with Ripple
- No income or capital gains tax
- Uses the US dollar as official currency
- Small but forward-looking approach to digital assets
- Limited domestic crypto infrastructure