Myanmar vs Papua New Guinea
Crypto regulation comparison
Myanmar
Papua New Guinea
Banned
No Regulation
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.
Papua New Guinea has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Central Bank of Myanmar
Regulator
Bank of Papua New Guinea
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No stablecoin regulation
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
Key Points
- No specific cryptocurrency legislation
- Central bank has not issued formal crypto guidance
- Limited internet and financial infrastructure
- Minimal crypto adoption
- No licensing framework for crypto services