Bangladesh warns bitcoin traders of jail

Bangladesh's central bank on Monday warned against dealing in bitcoin, saying anybody caught using the virtual currency could be jailed under the country's strict anti-money laundering laws.

The Bangladesh Bank, which regulates the country's banking industry, said it issued the order after reports in local media of Bitcoin transactions through various online exchange platforms.

'Bitcoin is not a legal tender of any country. Any transaction through Bitcoin or any other crypto currency is a punishable offence,' the bank. Bank officials said that anyone found guilty in Bangladesh of using Bitcoin could be sentenced to up to 12 years in jail.