Bank of Myanmar issues warning on the trading and use of digital currency

According to The Irrawaddy, the Central Bank of Myanmar warned of the use and trading of digital currencies, including bitcoin, that buying, selling or exchanging digital currencies could cost consumers. After a series of digital currency-related scams, the Bank of Myanmar issued a statement on Friday stating that it is the only issuer and regulator of the legal tender in Myanmar. The Bank of Myanmar has not authorized the use of digital currency, nor does it allow any organization to engage in cryptocurrency or digital currency transactions in Myanmar.