Myanmar shadow government declares stablecoin USDT an official currency By Cointelegraph

Myanmar shadow government declares stablecoin USDT an official currency

Cryptocurrency Dec 13, 2021 08:00AM ET

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Myanmar shadow government declares stablecoin USDT an official currency

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.

Announcement regarding NUG acceptance of Tether. Source: Facebook (NASDAQ:FB)

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