{"id":403446,"date":"2022-02-05T00:32:12","date_gmt":"2022-02-04T21:32:12","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/myanmars-military-government-considers-launching-digital-currency-report\/"},"modified":"2022-02-05T00:32:12","modified_gmt":"2022-02-04T21:32:12","slug":"myanmars-military-government-considers-launching-digital-currency-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/myanmars-military-government-considers-launching-digital-currency-report\/","title":{"rendered":"# Myanmar\u2019s military government considers launching digital currency: Report"},"content":{"rendered":"

“# Myanmar\u2019s military government considers launching digital currency: Report <\/strong>”
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The armed forces of Myanmar, which have been in control of the government since forcibly detaining many elected leaders in 2021, is reportedly planning to release a digital currency to help the local economy.<\/p>\n

According to a Thursday report from Bloomberg, Major General<\/a> Zaw Min Tun said<\/a> rolling out a digital currency would \u201chelp improve financial activities in Myanmar,\u201d but military officials were undecided on whether to work with local companies or release the token on their own. Tun, the chief of the military government\u2019s “True News<\/a> Information Team,” acts as a spokesperson for the Myanmar army. <\/p>\n

The digital currency is aimed at supporting payments within Myanmar as well as improving the economy. According to a Jan. 25 report, the World Bank estimated<\/a> that the country\u2019s economy will grow by only 1% through September 2022 due to the effects of the pandemic and the overthrow of the civilian government. Reportedly, the growth of the economy was \u201caround 30 percent smaller than it might have been in the absence of COVID-19 and the February 2021 coup.\u201d<\/p>\n

It\u2019s unclear whether introducing a digital currency \u2014 the report does not suggest any involvement with the Central Bank of Myanmar \u2014 would positively improve the economy or encourage residents to make purchases. The central bank has previously announced that anyone in Myanmar found to have traded digital assets could be imprisoned or fined, but this was before the military seized control.<\/p>\n

\u201cAt this point, we are still learning about digital currencies and having discussions,\u201d said Win Myint, director-general of the Central Bank of Myanmar\u2019s currency-management department. \u201cWe need to consider both pros and cons.\u201d<\/p>\n

The country\u2019s shadow government, led by the supporters of detained state counselor Aung San Suu Kyi, announced in December that it would recognize Tether (USDT) as an official currency. The group continues to raise funds to topple the military government as reports<\/a> of war crimes circulate. <\/p>\n

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Myanmar\u2019s military junta set fire nearly 100 houses in Thantlang on the one year anniversary of the coup. This needs to be stopped. The junta must be held accountable for their actions at ICJ\/ICC. #WarCrimes<\/a> #CrimesAgainstHumanity<\/a> <\/p>\n

Photo credit – Chin World pic.twitter.com\/a8CmubuvsS<\/a><\/p>\n

\u2014 Zin Mar Aung (@ZinMarAungNUG) February 3, 2022<\/a><\/p><\/blockquote>\n