Tether Supports Burmese Shadow Government's Move to Their Stablecoin

Briefly:

  • Rebel government in Burma made USDT the official currency
  • The stablecoin issuer has supported this initiative
  • According to the company, this once again underlines the status and reliability of the US dollar as a means of payment

Earlier we reported that the Government of National Unity of Myanmar (NUG) has legalized the USDT stablecoin. The shift to digital assets will enable insurgents to more effectively counter the military regime.

USDT issuer Tether Ltd. came out in support of the NUG. The initiative also received the approval of international partners, including the US government.

The company thanked for the trust and once again emphasized the dollar’s potential as a guarantor of financial flows stability.

As a reminder, the issuer of the stablecoin Tether claims that 20% of its gross volume is provided by the US dollar. And despite the doubts of some experts, USDT remains one of the most popular and reliable stablecoins in the crypto space.

Notably, in May last year, the Central Bank of Burma (Myanmar) banned the use of cryptocurrencies. The legalization of stablecoins by the shadow government indicates that these assets can be used as a political tool and leverage.

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