Myanmar's government in exile throws support behind launch of crypto-based bank
In the Southeast Asian country of Myanmar, the exiled government is betting on cryptocurrency to help it overthrow a military junta as it backs the Saturday launch of the nation's first crypto-based bank.
for junta rule to end. The US Burma Act solidifies the stance of the US by allowing the State Department to engage with the NUG and place sanctions against the junta, also known as the State Administration Council . Canada and the UK also have sanctions in place against the SAC. While revolutions may not be televised, they certainly must be funded. This leaves the NUG reliant on a mix of crowdfunding techniques including international donations, selling bonds, real estate auctions and more. Last year the NUG even launched its own digital currency, complete with mobile wallet NUGPay.his party had raised over $100 million to date, 45 percent coming from non-interest earning bonds. It also has collected over $1.
Naing said in a press conference on Thursday that the junta had used access to bank transfers in the past as a way to"hunt down and persecute."
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