Bangladesh is a country in South East Asia that has implemented a ban on cryptocurrency transactions. Despite this, more than two percent of the population owns cryptocurrency, the income from which is not taxed (because it is not regulated).
Country overview
#141
BangladeshCountry stats
Rating Points
30
This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.
Crypto Penetration
2.4%
Estimated percentage of crypto users out of the country's total population based on public data.
Legal Entities
0
Number of crypto companies registered in the country based on regulator data if available or other types of public data.
Regulation Points
10
An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.
Amount of crypto users
4 056 000
Total amount of crypto users out of the country's total population based on public data.
Taxation points
10
This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.
Market volume points
0
A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.
Status of crypto
Ban
General status of cryptocurrency regulation in this jurisdiction.
Crypto payments
Ban
The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.
Security Level
Moderate danger
The overall level of security in a given country based on open data.
Crypto Salaries
Ban
The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.
Business Climate
No info
Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.
Stablecoin Regulation
Ban
This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.
Bad Factors
No
This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.
Types of licenses
No licenses exist
Good
Medium
Bad
Bangladesh has a moderate danger security level according to our rating. Jurisdiction has 37.5 points (from 100) for safety level in Numbeo crime rating (1). Homicide level (2) is 2.3 per 100,000 inhabitants a year.
Bangladesh Bank has previously stated (3) that transactions involving crypto assets are not legal in the country, and that violations could be punished with up to seven years imprisonment, a fine, or both.
Ban.
Currently crypto operations in Bangladesh are banned.
The Personal Income Tax Rate in Bangladesh stands (7) at 25 percent. The standard corporate tax rate has been reduced (8) in 2022 from 25% up to 22,5%. The capital gain tax rate is 15% based on Bangladesh Highlights 2023 (9). According to (10) the National Board of Revenue (NBR), currently, local citizens have to pay a 10% surcharge if their assets are worth from Tk3 crore to Tk10 crore, or they have more than one car or own over 8,000 square feet of real estate in the city area.
The surcharge rate is 20% for those whose assets are worth from Tk10 crore to Tk20 crore, and 30% for those with assets worth from Tk20 crore to Tk50 crore. Taxpayers with assets exceeding Tk50 crore have to pay a 35% surcharge, according to the NBR.
1)👉🏻Crime Index by Country 2023 Mid-Year
2)👉🏻List of countries by intentional homicide rate
3)👉🏻Bangladesh Bank
4)👉🏻Central Bank of Bangladesh. Official website
5)👉🏻Bangladesh Bank warns against transactions in 'illegal' Bitcoin, and other cryptocurrencies. Article
6)👉🏻Central bank issues notice banning Bitcoin in Bangladesh
7)👉🏻Bangladesh Personal Income Tax Rate. Article
8)👉🏻Bangladesh — Orbitax Corporate Tax Rates. Article
9)👉🏻International Tax Bangladesh Highlights 2023. PDF file
10)👉🏻Surcharge on the rich to be eased. Article