Myanmar's Government of National Unity (GNU), an underground organization opposing the military regime that has seized power in the country, has declared the stablecoin USDT as the official currency of payment in the country.
According to PNU representatives, the introduction of stable coins as a currency will enhance the privacy of residents and provide an opportunity to avoid confiscations.
The PNU will accept USDT as part of its fundraising campaign to overthrow the regime. The government also raised $9.5 million through the sale of bonds to the Myanmar diaspora around the world.
The shadow government's decision to legalize Tether goes against the cryptocurrency ban imposed by the Myanmar Central Bank last May year.
The PNU was recognized as the official government of Myanmar by the French Senate and the European Parliament. The United States has not yet expressed its views on this matter.
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According to cointelegraph.com
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