13 June 2025
On June 12, the Central Bank of Myanmar announced that it will actively monitor and take action against individuals and organizations inciting instability in foreign exchange prices. The bank will accelerate its efforts against those who buy, sell, or exchange foreign currencies without a valid license issued by the Central Bank.
To stabilize the foreign exchange rate and prevent speculation, the Central Bank of Myanmar is selling foreign currencies needed by importers through its Online Trading Platform. Additionally, it is offering small amounts of foreign currencies at the money transfer counters of private banks for individuals traveling abroad for medical treatment, education, pilgrimage, or employment.
Reports indicate that legal cases have been filed in relevant township courts, resulting in sentences issued according to the Foreign Exchange Management Law, the Anti-Money Laundering Law, the Financial Institutions Law, and the Telecommunications Law.
The Central Bank of Myanmar is actively monitoring social media platforms, including Facebook Pages, Facebook Groups, Viber Groups, and applications like Myanmar Market Price that promote USDT and foreign exchange rates. They are closing the Pay Accounts and Banking Accounts of individuals involved in these promotions, blocking their phone SIM cards, and taking legal action in accordance with existing laws.
It has been announced that strict measures will be implemented against individuals and organizations that intentionally buy, sell, or exchange foreign currencies without a valid license issued by the Central Bank of Myanmar.
#CBM #Market Price #Unlicensed Foreign Currency Transactions #mtnewsupdate
