Is Myanmar ready for cryptocurrency?

The recent coverage of Chinese blockchain company Shellpay Internet Technology Co’s plan to issue digital coins in eastern Shan has sparked widespread social media attention on the cryptocurrency industry. Cryptocurrencies are digital currencies that has no physical form. Unlike cash, they have decentralised control and does not require a central bank or federal reserve. Blockchain […]

Cryptocurrency scheme not in Mong La, company says

A Yongbang cryptocurrency scheme in a border area of eastern Shan State is not located in Mong La Special Administrative Region 4, the Chinese firm in charge clarified. “The physical jurisdiction of Yongbang is a couple hours away from Mong La. Any control of incidental overlap [there should be none] will be maintained by the […]

Chinese tech firm claims digital plans for Mong La SEZ

A Shanghai blockchain company claimed it intended to set up a special economic zone in a rebel-held border area of eastern Shan State where it would issue digital currencies and IDs to the local population. Executives from Shellpay Internet Technology Co, in a Channel News Asia (CNA) broadcasting programme aired last December, said that the […]

Mongla Official Denies Chinese Firm Permitted to Set Up Autonomous Digital Economic Zone

The general secretary of the rebel-controlled Mongla Special Administrative Region on the Chinese border has denied any knowledge of a Chinese company’s plan to establish an independent political entity within its borders based on an “e-citizenship” system open to all with a digital economy supported by a cryptocurrency. In a program titled “Inside the Crypto […]