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Myanmar vs Zimbabwe

Crypto regulation comparison

← Back to map | Myanmar | Zimbabwe
Myanmar

Myanmar

Zimbabwe

Zimbabwe

Banned
Restricted

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.

Zimbabwe has restricted cryptocurrency through its central bank. The RBZ banned financial institutions from processing crypto transactions in 2018. However, in a unique move, the RBZ issued gold-backed digital tokens (ZiG tokens) in 2023 as a store of value. Zimbabwe has a history of currency instability (hyperinflation, currency collapses) which drives informal crypto adoption for hedging and remittances.

Tax Type None
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges No No
Mining No No
Mining Yes Yes
Regulator Central Bank of Myanmar
Regulator RBZ (Reserve Bank of Zimbabwe)
Stablecoin Rules No stablecoin regulation
Stablecoin Rules No private stablecoin regulation; RBZ introduced gold-backed ZiG digital token as state currency
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
  • RBZ banned banks and financial institutions from servicing crypto in 2018
  • RBZ issued gold-backed digital tokens (ZiG) in 2023 as a CBDC-like instrument
  • No licensing framework for crypto exchanges
  • Informal crypto adoption driven by currency instability and remittance needs
  • Crypto ownership itself is not explicitly criminalized for individuals
Sources
Sources