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Myanmar’s parallel government The Government of National Unity, called the NUG and formed by followers of imprisoned leader Daw Aung San Suu Kyi, has announced that it will accept Tether (USDT) as legal currency for local use.
The Government of National Unity of Myanmar is headed by the Nobel Peace Prize laureate Aung San Suu Kyi, who received a commendation from the United States.
The party is recognized by the European Union. The fact that she chose to recognize the USDT as the official currency is in recognition of the strength of the US dollar and its ability to provide a safe haven for the world’s citizens, Tether said.
The Government of National Unity is currently raising funds through bond sales to overthrow the current military regime and free its leader from prison. The alternative government finance minister said there hasn’t been any analogue to this initiative with the USDT yet.
The adoption of USDT came as a surprise to many, given that the issuer of Tether faces constant criticism. Serious accusations were brought against the company of misuse of funds and lack of support for stablecoins by fiat currencies and other assets.
Recently, the US CFTC fined Tether $ 41 million for misleading claims that its stablecoin is fully backed by US dollars.
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