Crypto ATM / kiosk operator in Myanmar

Central Bank of Myanmar Warnings (2020/2021 onwards):

The CBM issued a strong warning in May 2020 (reiterated multiple times since, especially after the 2021 coup) stating that cryptocurrencies are not legal tender in Myanmar and that engaging in their use, trading, or mining is illegal. It warned the public about the risks involved, including financial loss, fraud, and money laundering.

Prohibited: Similarly, there are no specific rules for secondary trading of cryptocurrency tokens because all such activities are generally prohibited by the Central Bank of Myanmar. Any platforms or individuals engaging in secondary trading would be operating outside the legal framework and subject to enforcement actions.

Potential for Legal Action: Individuals or entities found to be dealing in cryptocurrencies could face charges under existing financial laws relating to unauthorized financial services, foreign exchange regulations, or potentially even broader laws depending on the specific activities involved (e.g., money laundering if large sums are involved). While specific public enforcement cases leading to conviction often receive less international media attention from Myanmar, the regulatory pronouncements themselves serve as a significant deterrent and official stance.

Non-existent: Given the official prohibition on cryptocurrencies, there are no established registration or exemption requirements for token issuers in Myanmar. Issuing or facilitating the trading of cryptocurrency tokens would likely be viewed as an unauthorized financial activity.

Central Bank of Myanmar (CBM): The primary authority issuing warnings and prohibitions.

Whether Adopted: No, it has not been adopted. The Central Bank of Myanmar (CBM) has consistently issued warnings against the use of cryptocurrencies and has stated that they are not legal tender. There is no specific legislation or guidance that enables or regulates Virtual Asset Service Providers (VASPs), let alone implements the Travel Rule.

General Prohibition/Warnings: Given the CBM's stance, any involvement in cryptocurrencies could be deemed illegal, potentially leading to fines, asset seizure, or other legal consequences, although explicit legislation detailing penalties specifically for crypto use can be difficult to pinpoint publicly.

Penalties for Non-Compliance: There are no penalties specifically for non-compliance with the FATF Travel Rule in Myanmar, as it is not law. However, individuals or entities involved in cryptocurrency activities could face penalties under existing Myanmar laws related to:

The Central Bank of Myanmar Directive 9/2020 banning cryptocurrencies remains formally in effect, but enforcement has shifted as the military government proposed the Anti-Online Fraud Bill in 2026 targeting specific crypto-related crimes with penalties of 10 years to life, indicating a move from a blanket prohibition to targeted prosecution of fraud.

No Specific Crypto Enforcement Framework: Since crypto is banned, there isn't a dedicated "crypto enforcement" framework with specific "violation types" and "penalty amounts" distinct from general financial or illegal activity laws.

Nature of Enforcement: Enforcement under an outright ban is often not through public regulatory fines against entities, but rather through:

Entity Targeted: General public, financial institutions, and potentially individuals engaging in crypto transactions. Violation Type: Violation of the CBM's ban on cryptocurrencies; engaging in unauthorized financial activities; potentially money laundering or illicit financing. Penalty Amount: Not publicly disclosed in specific cases. Could range from warnings and asset seizures to imprisonment under existing financial or criminal laws.

Outcome: All cryptocurrency activities are illegal. Individuals and entities found engaging in them face legal risks, including fines and imprisonment.

The Irrawaddy (February 14, 2022): "Myanmar Military Regime Cracks Down on Crypto as NUG Embrace It." (This article confirms the ban is still in effect and highlights the regime's efforts to curb it).