Myanmar may criminalize ownership of cryptocurrencies
The violators face a large fine or imprisonment
25.01.2022 - 08:30
314
1 min
0
What’s new? The Twitter users are actively sharing documents suggesting that Myanmar’s military authorities can impose serious penalties for owning cryptocurrencies and using VPNs.
Yet another dictatorship targets VPNs and Bitcoin.If you want to set up a fascist state, you do not want your people using these tools https://t.co/Zob12DyJr4— Alex Gladstein 🌋 ⚡ (@gladstein) January 24, 2022
“Yet another dictatorship targets VPNs and bitcoin. If you want to set up a fascist state, you do not want your people using these tools,” is how user Alex Gladstein commented on the situation.
What information is contained in the documents? The alleged bill was published by an advisor to the Ministry of Human Rights of Myanmar’s alternative government. The military authorities in that country plan to punish the use of VPNs with 1 to 3 years’ imprisonment. For cryptocurrency transactions, citizens are to face 6 months to 1-year imprisonment or a fine of 5 million Myanmar kyat.
No comments have yet been received from Myanmar’s military authorities representatives in response to the documents posted.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$99 049
BTC
+1.33%
-
Ethereum
$3 301.07
ETH
-1.17%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.45
XRP
+22.79%
-
Dogecoin
$0.403195
DOGE
+5.22%
-
Cardano
$0.983763
ADA
+23.7%
-
Stellar XLM
$0.340903
XLM
+38.15%
-
Bitcoin Cash
$489.49
BCH
+2.21%
-
Polkadot
$6.42
DOT
+9.59%
-
Litecoin
$90.61
LTC
+2.71%