Myanmar proposes life imprisonment for crypto fraud

Myanmar's military junta has proposed an 'Online Fraud Prevention Bill' that would impose life imprisonment for cryptocurrency fraud, The Block reported, citing CNA. The bill also includes provisions for the death penalty in cases involving assault, confinement, or torture to compel fraudulent activities. The move comes amid growing international concern over organized online and crypto investment fraud syndicates operating in Myanmar's conflict zones. Last year, the U.S. Treasury's Office of Foreign Assets Control (OFAC) sanctioned several organizations in Myanmar and Cambodia for their involvement in crypto investment scams and forced labor.