Regulatory Alerts2020-05-15
Central Bank of Myanmar Notification on Digital Currency
The Central Bank of Myanmar issued Notification No. 9/2020 to regulate the use, purchase, sale, and transactions of digital currencies within the country. The directive explicitly prohibits unauthorized individuals and entities from trading cryptocurrencies such as Bitcoin, Litecoin, Ethereum, and Perfect Money through personal social media accounts or websites without proper authorization. Violations of this regulation subject offenders to fines, imprisonment, or both under the Central Bank Law and Foreign Exchange Act, reinforcing compliance with existing financial statutes.
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