The National Unity Government of Myanmar plans to issue CBDC using frozen national reserves

According to Chain Catcher news, as reported by Cointelegraph, Myanmar's Minister of Planning of the National Unity Government, Tin Tun Naing, stated that they are considering using the country's frozen national reserves as asset backing for issuing a central bank digital currency (CBDC). These reserves have been frozen since February 2021 in accounts at the New York Federal Reserve Bank in Singapore, Thailand, and Japan, potentially amounting to billions of dollars. (Cointelegraph)