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Myanmar Shadow Government Raises $100 Million to Oppose Junta

  • Blockchain, cryptocurrencies to be used in plan for new bank
  • Initial Coin Offering to be allowed to boost crowdfunding
Protesters hold a banner supporting the National Unity Government in Yangon.

Protesters hold a banner supporting the National Unity Government in Yangon.

Source:: STR/AFP/Getty Images

By
Bloomberg News

Myanmar’s shadow National Unity Government said it has raised more than $100 million to fund its democracy effort and topple the junta. 

About 45% of the funds are from the sales of so-called Spring Revolution Special Treasury Bonds, according to Tin Tun Naing, shadow minister for planning, finance and investment. The debt doesn’t pay interest and the capital will be repaid only when the democracy effort is successful.