Myanmar military junta proposes law that will ban cryptocurrencies and VPN networks

Charlie Taylor

The military junta that is ruling Myanmar has introduced a bill that, if passed, will ban the use of cryptocurrencies in the country. According to a report by The Register, the project was presented on January 13th and will remain open for changes until the 28th of this month. The proposal is signed by […]

The post Myanmar Military Junta Proposes Law That Will Ban Cryptocurrencies and VPN Networks appeared first on Bitcoin Portal.

The military junta that is ruling Myanmar has introduced a bill that, if passed, will ban the use of cryptocurrencies in the country.

According to a report by The Register, the project was presented on January 13th and will remain open for changes until the 28th of this month. The proposal is signed by Soe Thein, permanent secretary of military transport and communications.

The text provides for a penalty of six months to one year in prison and a fine of US$ 2,800 for those who use cryptocurrencies.

But the main focus of the bill seems to be to curb the use of VPNs, which are private networks that give access to the internet and allow greater ease of anonymity and access to content that is censored or prohibited in a country.

The penalty for VPN use, if the law is passed, is one to three years in prison.

The Register points out that Facebook is synonymous with the internet in the country. As soon as the military government was installed, it banned the social network. It was then that the population began to use VPN networks to access the site – and therefore the need for a specific law in this regard.

Finally, the bill provides for internet service providers to be required to provide their customers' personal information, such as name, address and browsing history, if the government requests it.

The post Myanmar Military Junta Proposes Law That Will Ban Cryptocurrencies and VPN Networks appeared first on Bitcoin Portal.

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