National Unity Government (NUG) or shadow government of Myanmar led by supporters of Aung San Suu Kyi imprisoned leader has announced that Tether (USDT) is tied to the US dollar. It is the official currency for local use.
According to a report published inBloomberg NUG will accept Tether for its ongoing fundraising campaign to try to overthrow the military regime in Myanmar. The shadow government also raised $9.5 million from the sale of “Spring Revolution Special Treasury Bonds” offered to Myanmar IDPs worldwide. The group aims to raise $1 billion through the sale of bonds issued by NUG.
The inclusion of Tether as the official currency for local use was fueled by privacy concerns and capital seizures by the current regime. NUG’s finance minister said the main reason behind Tether inclusion was its “domestic use. to make commerce, services and today’s payment systems easier and faster.”
NUG canacceptedthat it is the official government of Myanmar by the French Senate andparliamentEurope in October 2021. However, the United States is not moving in this direction. Nug’s decision to accept and use stablecoins could become a point of discussion among nations, especially at a time when the US government is looking to impose a tighter stablecoin policy.
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