On 24 June 2025, the Central Bank of Myanmar (“the CBM”) issued Notification No. 16/2025 (“the Notification”), announcing the formation of the Central Committee for the Issuance of Central Bank Digital Currency (“the Committee”), with prior approval from the State Administration Council dated 1 May 2025. The Committee is tasked with overseeing the research, development, and potential implementation of a digital kyat.
Chaired by the CBM Governor, it includes high-level officials from the Information Technology and Cyber Security Department, the Ministry of Transport and Communications, the Ministry of Planning and Finance, the Financial Regulation Department, and the Myanmar Banks Association.
The Notification states that the Committee is responsible for engaging with stakeholders, organizing workshops, reviewing research, and coordinating with local and international experts. It must define procedures, prepare and implement a phased plan for central bank digital currency (“the CBDC”) rollout, and ensure alignment with the approved strategy.
The Notification further states that the Committee will study global CBDC models, assess their impacts, and evaluate technologies such as ledger systems, databases, and cybersecurity frameworks. Furthermore, the Committee will supervise the development of relevant legal and regulatory frameworks, manage operational aspects including human resources and budgeting, oversee the setup of technical infrastructure, and form and supervise working committees as required.
The information provided here is for information purposes only and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.
