Myanmar's military government introduced a new bill this week that would make digital currency fraud punishable by 10 years to life in prison — and, in certain cases, the death penalty. The proposed Anti-Online Fraud Bill targets a broad range of cyber-enabled financial crimes, with a specific focus on cryptocurrency-related schemes.
What the bill covers
The legislation, drafted by the ruling junta, defines 'digital currency fraud' broadly enough to cover scams, Ponzi-like structures, and unauthorized exchange operations involving virtual currencies. Offenders convicted under the law would face a minimum of 10 years behind bars, with life imprisonment as the ceiling. For aggravated cases — such as those involving large sums or organized networks — the bill allows for the death penalty. The draft does not specify exact thresholds for what qualifies as aggravated.
How it fits Myanmar's crackdown on digital assets
Myanmar has taken a hard line on cryptocurrencies since the military seized power in 2021. In 2022, the junta banned all crypto transactions and ordered telecoms to block crypto-related websites. The new bill formalizes the threat of long prison terms — and capital punishment — into written law. The government has framed the measure as a way to protect citizens from online scams that have proliferated along the country's borders, especially in regions controlled by armed groups where illicit crypto casinos and fraud compounds operate.
International context and concerns
Human rights groups have condemned the proposal, saying the death penalty clause could be used to target political opponents under the guise of fraud enforcement. The military government has not released a public comment period or indicated whether the bill will be subject to any legislative debate. Myanmar's parliament, dominated by junta appointees, typically passes laws without amendment.
The bill arrives as neighboring countries also tighten rules on crypto. Thailand recently moved to regulate digital asset exchanges more strictly, and Vietnam has warned against crypto investment schemes. But none have proposed the death penalty for such offenses.
What happens next
The junta's State Administration Council is expected to vote on the Anti-Online Fraud Bill within the coming weeks. If approved, it will take effect immediately upon publication in the official gazette. Critics are watching closely to see whether the law's vague language — particularly around 'digital currency fraud' — gives authorities room to prosecute people for simply holding or transacting in crypto. As of now, no public hearings or consultations have been scheduled.
