{"id":380398,"date":"2021-12-13T14:26:11","date_gmt":"2021-12-13T11:26:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/myanmar-shadow-government-declares-stablecoin-usdt-an-official-currency\/"},"modified":"2021-12-13T14:26:11","modified_gmt":"2021-12-13T11:26:11","slug":"myanmar-shadow-government-declares-stablecoin-usdt-an-official-currency","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/myanmar-shadow-government-declares-stablecoin-usdt-an-official-currency\/","title":{"rendered":"# Myanmar shadow government declares stablecoin USDT an official currency"},"content":{"rendered":"<p>&#8220;<strong># Myanmar shadow government declares stablecoin USDT an official currency <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Myanmar\u2019s 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.\u00a0<\/p>\n<p>As per a report published in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bnnbloomberg.ca\/myanmar-s-shadow-government-uses-tether-amid-anti-junta-campaign-1.1694954\">Bloomberg<\/a>, 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 \u201cSpring Revolution Special Treasury Bonds\u201d offered to the Myanmar diaspora across the world. The group aims to raise $1 billion through the sale of NUG-issued bonds.<\/p>\n<p>The NUG Ministry of Planning, Finance, and Investment posted an announcement regarding the move on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> on Dec. 13.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/54812968-9a1c-446d-bed4-fced88afd121.jpeg\"><figcaption style=\"text-align: center;\"><em>Announcement regarding NUG acceptance of Tether. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/MoPFINUG\/photos\/a.114937487404692\/251267307105042\"><em>Facebook<\/em><\/a><\/figcaption><\/figure>\n<p>The NUG\u2019s decision to make Tether an official currency undermines the crypto ban imposed by the Central Bank of Myanmar in May last year.\u00a0<\/p>\n<p>The incorporation of Tether as an official currency for local use is prompted by privacy concerns and the seizing of funds by the current regime. NUG Finance Minister said the primary reason behind Tether\u2019s incorporation is \u201cdomestic use to make it easy and speed up the current trade, services, and payment systems.\u201d<\/p>\n<p>NUG was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/www.senat.fr\/leg\/tas21-002.html?msdynttrid=R4pr3j4ZEPuHnyjm1swr5ZNfpCYs0gcsSh4PCDXITqs\">recognized<\/a> as the official government of Myanmar by the French Senate and the European <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thediplomat.com\/2021\/10\/eu-parliament-voices-support-for-myanmars-opposition-government\/\">parliament<\/a> in October 2021, however, the United States hasn\u2019t made any move in this direction. The NUG\u2019s decision to accept and use Tether stablecoin could become a point of discussion among nations, especially at a time when the U.S. government is looking to impose strict stablecoin issuance policies.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/myanmar-shadow-government-declares-stablecoin-usdt-an-official-currency\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Myanmar shadow government declares stablecoin USDT an official currency &#8221; Myanmar\u2019s 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.\u00a0 As per a report published in Bloomberg, the NUG will accept&#8230;<\/p>\n","protected":false},"author":1,"featured_media":380399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvODAzN2ZjNDgtM2RlZC00Y2RmLTgwOGUtNTdlZjE3NzkxOGY0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75159,75493,74355,25196,36041],"class_list":["post-380398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-digital-currency","tag-stablecoin","tag-adoption","tag-asia","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/380398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=380398"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/380398\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/380399"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=380398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=380398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=380398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}