Myanmar proposes life sentence or death for crypto scammers
Myanmar’s new Anti-Online Fraud Bill states that anyone who is convicted of committing “digital currency fraud” could face anywhere from ten years to life in prison, and possibly the death penalty.
The parliament, the Pyidaungsu Hluttaw, put forward the proposed law last Thursday in response to online fraud in the country, which it said challenged its “sovereignty and stability.”
Anyone responsible for the death of an individual who had been coerced or exploited into committing online fraud would receive a sentence of death.
The penalties are among the most severe in the world. In January, China ordered the execution of 11 people linked to Myanmar scam centers that had been responsible for trafficking Chinese nationals.
South Korea plans to release rules for tokenized securities
The US Securities and Exchange Commission (SEC) is expected to reveal its “innovation exemption” for tokenized stocks this week. Around the world, governments like the UK and South Korea are making similar preparations.
South Korea’s Financial Services Commission (FSC) plans to release detailed tokenized securities rules in July. The country is preparing to add blockchain-based securities to its capital markets framework in 2027.
The measures are expected to include a roadmap for tokenizing stocks, bonds and money market funds, possible changes to over-the-counter trading limits and rules allowing some fractional investment products to pool similar underlying assets.
It’s shaping up as an important test of how far South Korea is willing to open regulated capital markets to distributed ledger infrastructure while keeping tokenized securities inside existing investor-protection rules.
South Korean crypto exchanges play musical chairs
Global crypto exchange OKX is reportedly in talks with Korea Investment & Securities to take a major stake in Coinone, one of the country’s five biggest exchanges.
According to Korean media outlet Yonhap, the two firms are discussing plans to each acquire around 20% of Coinone, mainly through the issuance of new shares rather than the sale of existing stock. The structure would leave management control largely unchanged.
Also this week, Hana Financial Group said it will invest roughly 1.003 trillion won (about $668 million) to acquire a 6.55% stake in Dunamu Inc, the operator of Upbit. The deal is slated to close in mid-June.
Meanwhile, the Maeil Business Newspaper reported legal and academic experts have raised constitutional concerns that percentage restrictions on crypto exchange ownership in South Korea may infringe on private property rights and operational rights.
Australia’s CGT makes Asian crypto hubs look more attractive
Australia just made starting a crypto business in the country much less attractive, following its decision to double the Capital Gains Tax rate in the Federal Budget. The minimum 30% rate, and a maximum 47% rate — which is the highest in the world — have caused outrage among local crypto holders.
Set to be implemented from mid-2027, the rules replace a 27-year-old scheme whereby any assets held for more than 12 months received a 50% CGT discount.
The new scheme allows investors to only adjust their cost basis by the inflation rate. Koinly boss Robin Singh said: “Crypto has historically grown much faster than inflation, so the inflation adjustment doesn’t come close to offsetting the loss of the 50% discount. With no tax reward for sitting on positions, expect more frequent trading and shorter holding periods.”
When Magazine surveyed the top crypto hubs around the world it’s notable that most didn’t impose any CGT at all (or none on long-term holders), including the major Asian crypto hubs of Singapore, the UAE and Hong Kong, or European hubs like Portugal.
Vietnam eyes Q3 launch for regulated crypto market
Vietnam’s deputy minister of finance, Nguyen Duc Chi, told the Digital Trust in Finance forum the country intends to launch its regulated cryptocurrency market in the third quarter of 2026.
“We believe that, as early as the third quarter, Vietnam could witness the first official activities of its crypto asset market, operating under a framework designed to ensure safety and transparency,” Chi said
Regulators opened a licensing pathway for domestic crypto asset trading platforms earlier this year. The country ranks fourth in the world for crypto adoption, according to Chainalysis.
Iran chooses Bitcoin for ‘insurance’ scheme
The Iranian Government is examining a plan to offer “cryptographically verifiable insurance policies” for ships passing through the Strait of Hormuz, which would presumably prevent them from being attacked by Iran.
“Payments will be settled in Bitcoin,” reported the…
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