Tether Salutes Myanmar NUG Government For Making Their Stablecoin Official Currency

2021-12-16 20:25:51
Support From Tether For NUG

In the latest news from former Burma, Tether salutes the shadow government of Myanmar, the National Unity Government (NUG), for making stablecoin USDT an official currency.

This is just 3 days after the official statement of the NUG, disclosing that Tether will become an official asset in the country.

According to the official announcement by Tether, the stablecoin management believes that this decision by the NUG is definitely the right one.

Especially since the government of Aung San Suu Kyi, the leader of NUG, is formally recognized by several world countries, including the European Union.

The fact that it has chosen to recognize USDT as an official currency is a commendation to the strength of the US dollar and its ability to provide a safe haven to citizens of the world. The significance of this moment goes far beyond the potentials of cryptocurrency to provide financial security but points to long-standing confidence in the US dollar for those who do not have confidence in their own governments or national currencies.Tether | Official Statement
Multiple Reasons

The reason why Myanmar’s shadow government is going crypto with USDT, is to counter the military regime that currently runs the country.

More specifically, by incorporating crypto, the NUG directly disobeys the order of the Central Bank in Myanmar, which sees to ban and eradicate all crypto assets.

In addition, the adoption will serve a dual purpose as well. Considering that a great deal of the contributions towards the NUG cause is directly from crypto donations.

And since the goal of the shadow government is to raise at least $1 billion from selling bonds, every penny is welcomed.

Aside from using the stablecoin Tether for political purposes, the NUG believes that crypto will drastically improve the overall payment situation in the country.

In particular, that will greatly improve trading, and consequently, the efficiency of the transactions.

Regardless of the outcome, Tether salutes the bold move of the NUG to make their stablecoin an official currency. And that this should serve as an example for similar situations, especially where the people simply don’t trust their official currencies or governments for that matter.

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