Myanmar shadow government declares stablecoin USDT an official currency

in #crypto • 2 years ago

Myanmar's shadow government, the
National Unity Government (NUG), led by
the supporters of jailed leader Aung San
Suu Kyi, has declared U.S. dollar-based
stablecoin Tether (USDT) as an official
currency for local use.
As per a report published in Bloomberg,
the NUG will accept Tether for its ongoing
fundraising campaign seeking to topple
the current military regime in Myanmar.
The shadow government also raised $9.5
million through the sale of "Spring
Revolution Special Treasury Bonds"
offered to the Myanmar diaspora across
the world. The group aims to raise $1
billion through the sale of NUG-issued
bonds.
The NUG Ministry of Planning, Finance,
and Investment posted an
announcement regarding the move on
Facebook on Dec. 13.

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2 years ago in #crypto by
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