Myanmar Could See Blockchain Powering its Stock Trading Markets
A prominent Japanese investment banking brokerage will negotiate with the Myanmar government to introduce blockchain technology in payments for stock trading in the country. A report by Asian publication Nikkei reveals that the Daiwa Securities Group will help adopt blockchain technology for stock trading in Myanmar (formerly Burma) with an aim to implement a blockchain-based trading infrastructure for practical use within the next two years. The distributed ledger platform will be devised to connect the Yangon Stock Exchange (YSX) – the country’s first and foremost stock exchange- and....
Related News
A major securities brokerage in Japan is reportedly testing a blockchain-based stock trading system in Myanmar. According to Nikkei, Daiwa Securities Group’s research outfit has been in Myanmar working with the Yangon Stock Exchange. The goal, the Asian regional newspaper reported, was to test mechanisms by which problems with critical trading infrastructure could be avoided or resolved more efficiently. Testing is said to have begun in March, involving five local firms along with the Yangon-based exchange. Daiwa, according to local sources, has an ownership stake in the exchange. The....
Myanmar’s Yangon Stock Exchange (YSX) will be establishing a Blockchain-based stock exchange with the help of Daiwa Securities Group, a Tokyo-based financial company, in order to integrate Daiwa’s equity trading into the Yangon exchange platform for the purposes of improved recordkeeping. Currently, both Daiwa and YSX are testing the Blockchain platform and are in discussions with government officials to fully use the Blockchain concept for all YSX trading within a period of two years, after completing months of successful testing. According to Nikkei, the Blockchain stock exchange proved....
Myanmar’s military-ruled government is proposing to enact laws that will see users of virtual private networks (VPN) and digital currencies being jailed for up to three years. In addition, offenders will be made to pay fines of up to $2,800.
Draft Bill Open for Comments
Myanmar’s military-ruled government is proposing to enact a law that outlaws the use of virtual private networks (VPN) and digital currencies in that country. Once enacted, violators of the new law not only face jail time but will be made to pay a fine.
According to a report published by....
Major General Zaw Min Tun said rolling out a digital currency would "help improve financial activities in Myanmar." The armed forces of Myanmar, which have been in control of the government since forcibly detaining many elected leaders in 2021, is reportedly planning to release a digital currency to help the local economy.According to a Thursday report from Bloomberg, Major General Zaw Min Tun said rolling out a digital currency would “help improve financial activities in Myanmar,” but military officials were undecided on whether to work with local companies or release the token on their....
Tether became an official currency in Myanmar’s shadow government in the middle of December of last year. The country’s ruling junta proposed a cryptocurrency ban as a way to combat this. Even though crypto payments are difficult to track, the ban was arguably less effective than it could have been. According to a State Administration […]