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Cryptocurrencies

Myanmar's pro-democracy forces resist with cryptocurrency

Tether emerges as potential savior for people seeking freedom over their assets

The NUG is letting citizens use Tether because its greater use could weaken the power of the military. (Source photo by Reuters and Tether website)

BANGKOK/YANGON -- Myanmar's National Unity Government, a pro-democracy group, recently announced that it officially endorses domestic distribution of the cryptocurrency Tether in a move to resist Myanmar's military, which seized control of the country last February, using fintech.

Tether is issued by a Hong Kong company, Tether Ltd. It is a blockchain-based cryptocurrency whose value is pegged to the dollar.

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