You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

November 24, 2025

Myanmar Affirms Cryptocurrency Controls

A recent warning from the Central Bank of Myanmar (CBM) against cryptocurrency use upholds the country’s ongoing strategy of enforcing strict prohibitions on unauthorized cryptocurrency activities while also promoting the controlled development of a central bank digital currency (CBDC).

The CBM’s warning, issued November 16, 2025, reminded the public of announcements in May 2019 and a notification in May 2020 confirming that all online and offline cryptocurrency transactions are strictly prohibited. The CBM also clarified that no financial institution in Myanmar is authorized to deal with digital currencies. The warning highlighted global risks, such as money laundering, scams, tax evasion, hacking, and severe financial losses caused by price volatility and insufficient regulation. The CBM urged the public to use only legitimate banking channels and avoid illegal cryptocurrency activities.

The warning comes five months after the CBM issued a notification announcing the formation of the Central Committee for the Issuance of a Central Bank Digital Currency. This committee includes senior CBM officials, representatives from relevant ministries and the banking sector, and technology experts. Its main role is to research CBDC models, test secure digital payment systems, and ensure that any future implementation aligns with Myanmar’s monetary policy and financial stability objectives.

Taken together, these two actions illustrate the CBM’s continued pursuit of its dual strategy to promote innovation through CBDC development while prohibiting cryptocurrency use. Businesses should note that while CBDC pilot programs may appear in the future, cryptocurrencies remain off-limits.

RELATED INSIGHTS​ 

March 27, 2026
Thailand’s National Broadcasting and Telecommunications Commission (NBTC) has publicly indicated that it is preparing a new regulatory framework for data center operators that may introduce foreign-ownership restrictions. In particular, the NBTC is considering reclassifying data center operations from a type 1 telecommunications business license to a type 3 license. If implemented, this change would subject data center operators to a significantly more stringent regulatory regime, especially in relation to foreign ownership and control. The NBTC has indicated that it intends to propose a draft framework to the NBTC board. This would be followed by a public hearing process, with a view to implementing the new rules within 2026. Under the Telecommunications Business Act B.E. 2544 (2001), as amended, telecommunications businesses operating under type 3 licenses are subject to foreign ownership restrictions, including a requirement that less than 50% of the total issued shares be held by foreign shareholders. In addition, type 3 licensees are subject to foreign dominance restrictions, which prohibit arrangements that allow foreigners to dominate the business. These foreign dominance restrictions are broad in scope and may capture various forms of direct and indirect control or influence. This includes circumstances in which a foreign national is able to influence or control the formulation of policy, management, or business operations, or the appointment of directors or senior executives. At this stage, the exact scope of the proposed rules remains unclear. Businesses with existing or planned data center operations in Thailand should therefore monitor upcoming NBTC developments in this regard and prepare for the expected public hearing process.
March 27, 2026
Vietnam’s emerging governance framework for artificial intelligence (AI) is developing through a multi-layered structure comprising three components: Policy instruments setting national priorities for AI development; Regulatory framework governing development, provision, deployment and use of AI; and Technical standards and voluntary guidelines. Policy level. At policy level, the foundation for a strategic framework for AI development and governance was laid in 2021 by the National Strategy for Research, Development and Application of AI until 2030, aimed at strengthening the national AI ecosystem and positioning Vietnam as a regional AI innovation hub. Subsequently, resolution No.57-NQ/TW (2024) identified AI as a key driver of science, technology, innovation and national digital transformation. AI was also designated as a strategic technology under decision No.1131/QD-TTg (2025) listing priority technologies across sectors. Regulatory framework. At the legislative level, the new Law on Artificial Intelligence took effect on 1 March 2026, establishing the core regulatory framework governing development, provision, deployment and use of AI systems. Controlled testing for emerging AI technologies is implemented under the Law on Science, Technology and Innovation. The AI Law is expected to be further operationalised through implementing instruments, most notably a draft decree guiding the AI Law, and draft decision of the prime minister identifying high-risk AI systems (both published in February 2026). A decision establishing priority datasets for AI development is also anticipated. Compliance obligations may also arise under sectoral regulatory regimes, including data protection, cybersecurity, banking, consumer protection, e-commerce and intellectual property, particularly where AI systems are used in automated decision-making or data-driven services. Technical standards and non-binding guidelines. Vietnam’s AI governance framework is also supported by technical standards and voluntary guidelines. A key instrument is decision No.1290/QD-BKHCN (2024), providing guidelines for responsible research and development of AI systems, and represents Vietnam’s first national AI ethics code. The Ministry of Science and Technology
March 27, 2026
In response to the rapid advancement of artificial intelligence (AI) and evolving global digital trends, Thailand has undertaken significant efforts to establish a comprehensive national policy framework aimed at fostering an AI ecosystem. This framework seeks to promote the responsible development and deployment of AI technology to enhance Thailand’s economic competitiveness and improve quality of life, with targeted implementation by 2027. In furtherance of this national AI policy, regulatory authorities have initiated efforts to develop and refine the applicable legal framework, including the drafting of Thailand’s first unified AI legislation. Pending the composing and enactment of such comprehensive legislation, sector-specific regulators have proactively issued guidelines applicable to regulated entities within their respective jurisdictions, including financial institutions, banks, insurance companies, securities and derivatives business operators, and digital asset service providers. Concurrently, cross-sectoral regulatory bodies, notably the Personal Data Protection Committee (PDPC) and the National Cyber Security Agency (NCSA), have promulgated guidelines applicable to all business operators within their regulatory purview. While unified AI legislation has not been enacted, the design, development and use of AI in Thailand in various industries is still subject to existing sector-specific legislation. National AI policy The Thai cabinet approved the Thailand National AI Strategy and Action Plan (2022-2027) in July 2022, aiming to establish an AI development and application ecosystem by 2027. The strategy is built around five pillars: Preparing social, ethical, legal and regulatory readiness for AI; Developing national infrastructure; Increasing human capability and AI education; Driving AI technology and innovation; and Promoting AI adoption in public and private sectors. The above-mentioned national AI committee, under the National Digital Economy and Society Committee (NDESC), was established in August 2022, chaired by the prime minister. Comprehensive legislation Following the national AI strategy, the government has been developing comprehensive AI legislation to govern and promote AI
March 20, 2026
Thailand’s Board of Investment (BOI) now requires data center projects to demonstrate measurable benefits for local workforce development, R&D, SME capability, and domestic supply chains to qualify for corporate income tax (CIT) exemptions. BOI Notification No. Por. 3/2569, issued on February 6, 2026, updates the requirements for projects seeking promotion under BOI category 8.2.1 (data centers). All data center projects must now submit and implement plans covering development of Thai human resources and domestic supply chain support before benefiting from any CIT exemption. Human Resources Development Plan The BOI seeks to promote local talent development beyond basic training. Plans must include the following elements: Training for data center design, construction, and operations targeting vocational students, engineering and ICT undergraduates and postgraduates, and energy and building personnel in Thailand. Joint curricula with Thai universities and technical institutes. Collaborative R&D with Thai nationals or institutions in areas including AI, resource allocation, high-performance computing, and data center hardware and systems. Thai SME upskilling in electrical and energy systems and IT services. Domestic Supply Chain Support Plan Plans must demonstrate knowledge transfer in design, construction, cooling, security, and power and water management. Projects must also include usage or installation of domestically manufactured equipment or engage specialist domestic entities. Criteria for BOI Evaluation The BOI will assess data center operators’ eligibility for CIT incentives based on two criteria: Scale requirement: Training and joint-curriculum initiatives must reach a total participants equal to at least 10 times the project headcount and run for the duration of the CIT incentive. If this threshold is not met, the applicant must also implement continuous R&D or SME skills-development plans throughout the incentive period. Substantiality test: Supply-chain plans must be substantive, meet industry standards, and show measurable development of the domestic digital and data center supply base. To ensure compliance,