Myanmar's anti-junta govt recognises Tether as its 'official' currency

A parallel government led by the supporters of Myanmar’s ousted leader Aung San Suu Kyi recognised Tether as an official currency for local use after the group began fundraising for a campaign that seeks to topple the military regime. 

The National Unity Government officially accepts Tether, a cryptocurrency meant to be a dollar proxy, for “domestic use to make it easy and speed up the current trade, services and payment systems,” NUG Finance Minister Tin Tun Naing said Sunday in a Facebook post.

No other details were given. Unlike Bitcoin or Ethereum, where daily price swings are typical, each Tether is supposed to be backed by one dollar and is therefore known as a stable coin.