In the present world, the concept of cybersecurity is as important as the physical security of a person, wealth and institution. Because of the growing interconnection of individuals through information and communication technology, the world is facing a major paradigm shift in regard to cyberspace technologies. Also, the criminals are changing their techniques fast, and the technologies to prevent crimes are rapidly becoming outdated and so are becoming the various legal and institutional arrangements to prevent such crimes. As part of the modern world, Bangladesh is bound to adapt to such a fast change of the technologies and to adjust its legal and institutional settings according to the need of the time. This study is an approach to analyze the various legal and institutional aspects of cybersecurity, the importance of cybersecurity laws and the various socioeconomic and political impacts of such laws including an attempt to analyze the various negative impacts and an endeavor to suggest solutions to those problems.