Bonded leather is a ground-up leather held together with a binder. It is likely safe to laser. Understand that most bonded leather that is ground is bonded with a glue that does not have any unsafe chemicals.
However, according to scientific sources, some may contain unsafe chemicals as there are binders that have unsafe gases given off during lasering. That issue, as well as others, is why I have decided to only laser leatherette coming from industry sources. It is too difficult to determine what is safe and lasers well.
Keep reading about laser engraving leather.