Myanmar adopts life‑sentence crypto‑fraud law while Bitcoin steadies near $64,000

Myanmar's parliament approved a new anti‑fraud law that authorises punishments ranging from ten years to life imprisonment for cryptocurrency scams and other online fraud schemes. The legislation also allows the death penalty for violent coercion linked to such scams, aiming to curb the country's growing role as a hub for online fraud.

During the same period, Bitcoin’s price hovered between $63,000 and $65,000, keeping the total crypto‑market capitalisation around $2.2 trillion. The publicly listed firm Strategy, which holds the world’s largest corporate Bitcoin stash, reported a net loss of $8.2 billion for the second quarter of 2026 after the price dip. Strategy now owns about 843,775 BTC, valued at roughly $54.8 billion, down from the $63.7 billion originally paid. It sold $218 million of Bitcoin, contradicting CEO Michael Saylor’s earlier pledge not to sell any of the holdings.