Myanmar exiles seek virtual currency

In turmoil: Protesters take part in a demonstration against the military coup in Yangon. The Myanmar junta has sentenced Suu Kyi to 20 years in prison, with eight more charges pending verdicts expected later this year. — AFP

YANGON: Myanmar exiles ousted in a 2021 coup are pressing the Federal Reserve (Fed) to endorse their bid to use US$1bil (RM4.5bil) in funds frozen by the United States to back a digital currency and a plan to establish a new central bank.

It’s a long-shot measure to help the shadow government led by allies of deposed leader Aung San Suu Kyi bolster its support amid a worsening economic and political crisis in the country sparked by last year’s military coup.