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Myanmar's NUG announces adoption of USDT as official currency
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moneycontrol.comMyanmar’s shadow National Unity Government (NUG), in an unprecedented economic move, announced the recognition of stablecoin Tether (USDT) as its official currency.
This comes days after elected leader Aung San Suu Kyi was sentenced to detention by the junta or the military-ruled government on charges of public incitement and flouting Covid-19 protocols.
NUG’s Finance Minister Tin Tun Naing declared the acceptance of tether, also known as dollar proxy, for domestic purposes and ease and speed of trade, services and payments.
Bloomberg reported that NUG, which consists of supporters and the elected government ministers of the expelled leader, hold no official power post the junta coup by military leaders in September 2021. Notably, the
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