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Central Bank Cautions Public on Digital Currencies

YANGON—The Central Bank of Myanmar warned against the use and trade of digital currencies and cryptocurrencies, including Bitcoin, saying the buying, selling or exchange of digital currency can lead to losses on the consumer’s side. On Friday, the Central Bank released a statement saying it is the sole issuer and supervisor of the domestic currency […]

Is Myanmar ready for cryptocurrency?

The recent coverage of Chinese blockchain company Shellpay Internet Technology Co’s plan to issue digital coins in eastern Shan has sparked widespread social media attention on the cryptocurrency industry. Cryptocurrencies are digital currencies that has no physical form. Unlike cash, they have decentralised control and does not require a central bank or federal reserve. Blockchain […]