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Libya vs Myanmar

Crypto regulation comparison

← Back to map | Libya | Myanmar
Libya

Libya

Myanmar

Myanmar

Banned
Banned

Libya has a restrictive stance on cryptocurrency. The Central Bank of Libya has warned against crypto use. Political instability and a divided government complicate any regulatory development.

Myanmar's Central Bank issued Notification No. 9/2020 prohibiting the sale, purchase, and exchange of unregulated digital currencies. Violations are prosecuted under the Anti-Money Laundering Law and Financial Institutions Law with penalties including imprisonment and fines. Despite the ban, underground stablecoin usage persists, particularly USDT.

Tax Type None
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges No No
Mining No No
Mining No No
Regulator Central Bank of Libya
Regulator Central Bank of Myanmar
Stablecoin Rules No stablecoin regulation
Stablecoin Rules No stablecoin regulation
Key Points
  • Central Bank of Libya has warned against cryptocurrency use
  • No specific cryptocurrency legislation
  • Political instability limits regulatory development
  • Crypto used informally despite restrictions
  • No licensed crypto exchanges operate
Key Points
  • CBM Notification No. 9/2020 prohibits sale, purchase, and exchange of digital currencies
  • Violations prosecuted under Anti-Money Laundering Law and Financial Institutions Law
  • Financial institutions banned from dealing in digital currencies
  • CBM is exploring a central bank digital currency (digital kyat)
  • Underground stablecoin (USDT) usage persists despite ban
Sources
Sources