Bangladesh vs Paraguay
Crypto regulation comparison
Bangladesh
Paraguay
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.
Paraguay has no specific comprehensive crypto law. President Abdo vetoed a crypto regulation bill in 2022. The BCP does not recognize crypto as legal tender. VASPs must register with SEPRELAD for AML compliance since 2020. Paraguay is a significant crypto mining hub due to cheap hydroelectric power from the Itaipu Dam, though bills to restrict mining due to energy theft have been debated.
Tax Type
Unclear
Tax Type
Income
Tax Rate
N/A
Tax Rate
8-10%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Bangladesh Bank
Regulator
BCP (Banco Central del Paraguay), SEPRELAD
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
- No comprehensive crypto law enacted; 2022 bill was vetoed by President Abdo
- Major crypto mining hub thanks to cheap hydroelectric power (Itaipu Dam)
- VASPs must register with SEPRELAD (anti-money laundering secretariat)
- Income from crypto activities subject to 8-10% tax rates
- ANDE (national electricity authority) regulates power consumption for mining operations