Myanmar Allows Tether

• 15 Dec 2021

• Myanmar’s shadow government has allowed the use of world’s largest cryptocurrency called Tether.
• Tether is a cryptocurrency, which is hosted on the Ethereum blockchain. Its tokens are issued by Tether Limited. Tether Limited is controlled by owners of Bitfinex.
• Tether is called a stablecoin, since it was originally designed to always be worth US$1 and maintain $1.00 in reserves.
• It can be transferred in a similar way as cryptocurrencies such as Bitcoin. Thus, it becomes difficult for governments and other authorities to track or prevent payments.