Proposed legislation targets digital currency scammers amid rising global fraud losses exceeding $20 billion in online schemes.
Myanmar’s military government plans to introduce life imprisonment for cryptocurrency scammers, reflecting one of the harshest penalties worldwide for digital fraud. The move follows a surge in scam centers across Southeast Asia, including operations linked to human trafficking and multi-billion-dollar fraud schemes.
Authorities globally have ramped up efforts to dismantle such networks, with the U.S. reporting over $11 billion in crypto-related scam losses in 2025 alone. A March executive order by U.S. officials prioritized combating cybercrime, while China executed 11 individuals tied to Myanmar-based scam hubs earlier this year.
The proposed bill will be reviewed during parliament’s June session, though the military junta’s 2021 coup has delayed legislative processes until 2026. Fraud tactics include pig-butchering scams and phishing schemes targeting platforms like Robinhood.