A group of supporters of the ousted Myanmar leader Aung San Suu Kyi has recognised Tether (USDT) as a means of payment. The parallel government has begun fundraising for a campaign aimed at toppling the military regime, Bloomberg reports.
The opposition finance minister Tin Tun Naing wrote on Facebook that USDT “will ease and speed up trade, services and payment systems.”
In May 2020, the Central Bank of Myanmar declared cryptocurrencies illegal, threatening offenders with fines and prison terms, the report notes.
In September, an alliance of pro-democracy groups and the cabinet of Aung San Suu Kyi declared war on the regime of Commander-in-Chief Min Aung Hlaing. The move sparked an escalation in clashes between the military and resistance groups.
In September, in El Salvador a law recognizing Bitcoin as a legal means of payment took effect.
The IMF later criticised the Salvadoran authorities’ decision.
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