Financial services industry leaders, particularly in the financial sector, are worried about the effects of bitcoin on their businesses.
The digital currency has been gaining popularity and attracting attention as a potential substitute for traditional currencies.
But the rise of bitcoin as an alternative payment method is also raising concerns among many in the industry.
Bangladesh’s financial industry is an important pillar of the Bangladeshi economy and has a history of making use of financial services.
The financial services industry employs over 300,000 people and is the third largest employer in the country after manufacturing and agriculture.
Financial services and payments are widely used in the Bangladesh economy, accounting for over half of the GDP, according to the World Bank.
The digital currency is currently trading at $7,500, compared to around $4,600 on the international market.
However, the price has risen by over $200 in recent weeks, according the bitcoin trading website CoinMarketCap.
Banks have been taking precautions to curb the volatility of bitcoin prices.
In June, Bangladesh’s Central Bank issued a statement saying it would restrict bitcoin transactions and limit the amount of bitcoin that can be exchanged on the digital currency exchange platform Bittrex.
In September, the Central Bank said that all bitcoin-related transactions would be stopped.
Last month, Bangladesh Prime Minister Sheikh Hasina announced a national bitcoin conference, which will be held in Bangladesh’s capital Dhaka on September 30, the Financial Times reported.
The conference is expected to address the adoption of digital currencies in the banking industry and the development of blockchain technology.
According to the Financial Services Authority of Bangladesh (FSAB), the bitcoin price has reached its highest point since November 2015.
The FSB is the central agency responsible for the financial services sector in Bangladesh.
The agency is also responsible for regulating the issuance and trading of money and other financial instruments.
Bitcoin was first created in 2009, by a group of Chinese hackers.
It was then dubbed the ‘Cryptocurrency of the Future’, and was traded at a price of around $2,200 per bitcoin.
The number of bitcoin transactions in Bangladesh has been increasing in recent years.
Last year, the number of transactions rose to a staggering 6,823,000, according data from BitFury.
Bitcoin is currently listed on over 150 exchanges, including Bittex, Coinapult, and BTC-e.
The cryptocurrency is not regulated in Bangladesh, which has one of the world’s highest bitcoin trading volumes.
The Financial Services Regulatory Authority (FSRA) has issued guidelines to regulate digital currencies, such as bitcoin, to protect the financial industry.
The guidelines call for companies to be prepared for the potential negative effects of the digital currencies on their business operations, including potential delays and losses of funds, according Reuters.
Bittrex, one of Bangladesh’s largest bitcoin exchange, is not currently accepting bitcoin.
However in an email to the news outlet, the company stated that it has no plans to allow the cryptocurrency.
“We are aware of the concern expressed about the bitcoin and have taken a step to address this,” the company said.
“We will continue to monitor the developments of bitcoin and its potential impact on our business operations.”
According to CoinMarketCaps, the total volume of bitcoins traded on Bittox, the world-renowned bitcoin exchange website, is around $3.4 billion.
However the cryptocurrency has gained popularity over the past few months as more people have discovered its value and began to use it as a payment method.
In an email, Bittx stated that the company is not taking bitcoin as a competitor to traditional currencies and is merely exploring the use of digital currency for its financial services business.
“This has been a growth area for us, we have no plans for bitcoin as the platform for trading.
As we have been focusing on bitcoin for a while, we are also exploring other payment options such as Paypal and Bitcoin Cash,” the email said.
According the Financial Regulatory Authority of Thailand (FRAT), bitcoin is a legal tender, not a currency.
Bitcoin is not listed on a government-issued currency or listed on an exchange.
The bitcoin community in Bangladesh is divided over whether to accept the cryptocurrency or not.
According to the country’s central bank, bitcoin is not an official currency.
The bitcoin trading platform Bitfinex has recently started accepting bitcoin as payment for its clients.
However, the FSB has not yet made a decision on whether to ban bitcoin altogether.
Bitcoin users have started to use alternative payment methods, such a prepaid card, for the past month.