Impact of Cryptocurrency Adoption on Financial Inclusion in Myanmar

Purpose: Aim of the study was to analyze the impact of cryptocurrency adoption on financial inclusion in Myanmar. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Cryptocurrency adoption in Myanmar holds promise for enhancing financial inclusion by offering faster and cheaper remittance options, especially in underserved rural areas. However, challenges such as regulatory uncertainties and concerns over consumer protection must be addressed through clear and supportive regulatory frameworks. To maximize benefits, Myanmar should focus on improving financial literacy, developing user-friendly cryptocurrency platforms integrated with mobile money services, and establishing coherent regulatory guidelines in collaboration with international bodies. Unique Contribution to Theory, Practice and Policy: Diffusion of innovation theory, technology acceptance model (TAM) & institutional theory may be used to anchor future studies on impact of cryptocurrency adoption on financial inclusion in Myanmar. Practical initiatives should prioritize enhancing financial literacy and digital education programs tailored to Myanmar's population. Initiatives that promote understanding of blockchain technology and cryptocurrencies among consumers, businesses, and policymakers are crucial. Policymakers in Myanmar need to develop clear and supportive regulatory frameworks that balance innovation with consumer protection.