The Chairman of the Yangon Region Gold Entrepreneurs Association (YGEA), U Myo Myint, stated that large gold shops selling gold online need to apply for an additional online license.

"If you want to sell online, you must apply for an additional online trading license. Only after obtaining the online license can you sell on platforms like Facebook. If you sell without this license, you will face further penalties," said U Myo Myint.

U Myo Myint continued to say that large gold shops are already selling online and are urged to apply for an online license.

"Many large shops are selling online. We kindly request these large shops to apply for an online trading license," said U Myo Myint.

Gold shops must also apply for a business license to operate gold trading on the ground. If they do not comply with the specified regulations, they will be penalized under Section 5 of the Essential Goods and Services Law, as announced by the Ministry of Natural Resources and Environmental Conservation.

Those who open gold shops need to apply for a license to operate a mineral (gold) trading service. The acceptance of applications was closed on February 17.