National Unity Government of Myanmar (NUG) announced on Tuesday that its treasury bonds can be bought with stable cryptocurrency, USDT. NUG decided to sell the treasury bonds in November to establish itself as the legitimate government of Myanmar after the military seized power in the country in February.
On December 8, 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. This undermines the crypto ban imposed by the Central Bank of Myanmar in May last year.
NUG aimed to raise 1 billion USD by selling treasury bonds for the revolution to restore the democracy in Myanmar.