Myanmar passes anti-scam bill with 10-year to life crypto penalties

Myanmar's combined Parliament approved an anti-online scam bill that imposes 10 years to life imprisonment for crypto scams and allows capital punishment for operators who use violence to force victims into fraud schemes.

Myanmar's Pyidaungsu Hluttaw passed the legislation in its entirety on Tuesday after reconciling differences between versions previously approved by its two chambers, according to the state-run Global New Light of Myanmar. The bill targets a sprawling cyberscam industry that has turned parts of the country into hubs for online fraud, with crypto-related schemes among the fastest-growing segments.

"Parliament approved the bill with no significant changes to the important provisions, including the death penalty clause," Lower House MP Aye Chan said, as reported by Agence France-Presse via the Strait Times.

A draft published in May prohibited crypto scams and operating scam centers, carrying penalties of 10 years to life imprisonment. The final version also allows sentences of 10 years to life or capital punishment for violence, torture, unlawful arrest or detention used to force people into online scams. The death penalty becomes mandatory when the conduct causes death, according to the draft text. The final amended text was not immediately available, meaning the precise wording of the crypto-related penalties could not be independently confirmed.

The legislation represents one of the harshest regulatory stances against crypto scams globally and could deter crypto-related business operations in and around Myanmar. Southeast Asian nations have struggled to contain scam centers operating along the Myanmar-Thailand border, where organized crime groups have used forced labor to run crypto investment fraud and romance scams. The bill's passage may set a precedent for neighboring jurisdictions considering similar measures, though enforcement remains a question given the junta's limited control over border regions where many scam centers operate. The law will take effect after receiving presidential assent, which the GNLM report did not confirm as having occurred.

This article is for informational purposes only and does not constitute investment advice.