Last Saturday, Myanmar's Shadow Government stated that Usdt is allowed as a country's crypto currency.
What is their intention?
In 2020 May 15, while the party NLD is ruling the country, they allowed the Central Bank that all cryptocurrency buy and sell are illegal and people who don't follow the rule will be fined or jailed. After that, fine or jail or both punishments were done to person who was arrested.
Now, just after one and half years, after they had reached the condition of a shadow government, the announcement of allowing Tether Usdt is released.
What is their aim behind this. It is hard to predict.
But in recent days, NUG/CRPH tried to sell the bonds in order to get fund for their ongoing political processes and it was seen that citizens who live within Myanmar are almost unable to buy. Moreover, not only Trans Border Transaction but the congested transaction flows may lead their plan difficult to success. Thus allowing Usdt may be one of the factors to solve this.
French and EU are currently recognizing the Shadow Government, but the announcement for allowing Usdt will change NUG/CRPH's standing among Western countries, especially for Us? Who knows.
Photo 1. 15 May 2020 announcement
Photo 2. 11 Dec 2021 announcement
