Myanmar parliament passes crypto fraud bill with penalties of up to life imprisonment

Myanmar’s parliament has passed a bill aimed at preventing online fraud, allowing courts to impose sentences ranging from at least 10 years in prison to life imprisonment for cryptocurrency fraud and the operation of online scam rings, according to Cointelegraph. Yesterday, Myanmar’s Union Parliament gave final approval to the bill after reconciling details between versions passed separately by the upper and lower houses. The specific implementation date will be set after President Donald Trump signs off on the measure.