Bangladesh vs Taiwan
Crypto regulation comparison
Bangladesh
Taiwan
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.
Taiwan regulates cryptocurrency under FSC guidance. In 2023, the FSC was designated as the primary regulator for virtual assets. VASPs must register and comply with AML regulations. Taiwan has a vibrant crypto community and several compliant exchanges. Crypto income is subject to income tax at progressive rates.
Tax Type
Unclear
Tax Type
Income
Tax Rate
N/A
Tax Rate
5-40%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Bangladesh Bank
Regulator
FSC (Financial Supervisory Commission)
Stablecoin Rules
Not applicable; all crypto transactions are prohibited
Stablecoin Rules
Under FSC guidance; stablecoins treated as virtual assets
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
- FSC designated as primary crypto regulator in 2023
- VASPs must comply with AML/CFT rules and register with the FSC
- Self-regulatory guidelines issued for VASP industry (2023-2024)
- Crypto income taxed at progressive rates (5-40%)
- Major exchanges include MaiCoin/MAX, BitoEX/BitoPro