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

Subscribe to Updates

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 Professionals

Industries

Fintech

Technology

Practices

Banking and Finance

Location

RELATED INSIGHTS​ 

April 16, 2020
On April 15, 2020, the Lao Prime Minister’s Office issued Notification No. 481/PMO, which provides further recommendations on the implementation of PM Order No. 06/PM issued on March 29, 2020, including the extension of the earlier lockdown measures imposed in Laos to May 3, 2020, and reiterating that measures to tackle the COVID-19 pandemic should remain in effect until further notice. 
Read More
April 15, 2020
On April 3, 2020, Vietnam’s Ministry of Information and Communication (MIC) issued Official Letter No. 1145/BTTTT-CATTT to provide guidelines on a set of technical criteria and specifications for cloud computing solutions for e-government deployment (the “Guidelines”).State agencies and organizations will rely on these Guidelines to assess and select solutions or lease cloud computing services for the development of e-government. Private-sector entities are also encouraged to refer to these Guidelines when setting up and deploying their own cloud computing platform solutions.
Read More
April 8, 2020
On February 3, 2020, the Vietnamese Government issued Decree No. 15/2020/ND-CP stipulating penalties for administrative violations in the fields of postal services, telecommunications, radio frequency, information technology, and electronic transactions (“Decree 15”). Decree 15 will replace the existing decree on penalties in the technology and telecom sectors (Decree No. 174/2013/ND-CP) and will take effect on April 15, 2020.
Read More
April 2, 2020
On March 31, 2020, Vietnam issued Directive No. 16/CT-TTg of the Prime Minister of Vietnam, setting out a wide range of social distancing measures, which we covered in an earlier client alert (click here for details). Following this nationwide announcement, local authorities in various provinces and cities have released their own guidance on implementation of measures for preventing and controlling the COVID-19 outbreak.
Read More