Crypto Crime Crackdown Escalates As Myanmar Targets Scammers With Execution
Americans lost more than $11 billion to crypto-related fraud last year, according to an FBI report released in April — and the pressure on governments across Southeast Asia to crack down has only grown since then. A Deadly Business Myanmar’s military government has now responded with one of the harshest proposed laws of its kind […]
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Scammers have already hit more than 700 crypto wallets — some holding over a million dollars in stablecoins — with a phishing scheme disguised as a federal law enforcement action. Related Reading: Crypto Crackdown Intensifies: Canada Revokes 47 Licenses A Scam Built On Fear The operation targets users of the Tron blockchain. Criminals mint a […]
Myanmar’s military-ruled government is proposing to enact laws that will see users of virtual private networks (VPN) and digital currencies being jailed for up to three years. In addition, offenders will be made to pay fines of up to $2,800.
Draft Bill Open for Comments
Myanmar’s military-ruled government is proposing to enact a law that outlaws the use of virtual private networks (VPN) and digital currencies in that country. Once enacted, violators of the new law not only face jail time but will be made to pay a fine.
According to a report published by....
A prominent Japanese investment banking brokerage will negotiate with the Myanmar government to introduce blockchain technology in payments for stock trading in the country. A report by Asian publication Nikkei reveals that the Daiwa Securities Group will help adopt blockchain technology for stock trading in Myanmar (formerly Burma) with an aim to implement a blockchain-based trading infrastructure for practical use within the next two years. The distributed ledger platform will be devised to connect the Yangon Stock Exchange (YSX) – the country’s first and foremost stock exchange- and....
Tether became an official currency in Myanmar’s shadow government in the middle of December of last year. The country’s ruling junta proposed a cryptocurrency ban as a way to combat this. Even though crypto payments are difficult to track, the ban was arguably less effective than it could have been. According to a State Administration […]
Major General Zaw Min Tun said rolling out a digital currency would "help improve financial activities in Myanmar." The armed forces of Myanmar, which have been in control of the government since forcibly detaining many elected leaders in 2021, is reportedly planning to release a digital currency to help the local economy.According to a Thursday report from Bloomberg, Major General Zaw Min Tun said rolling out a digital currency would “help improve financial activities in Myanmar,” but military officials were undecided on whether to work with local companies or release the token on their....