Myanmar's shadow National Unity Government (NUG) plans to launch an online Bank, Spring Development Bank, that uses cryptocurrency to disrupt the flow of foreign currency to banks controlled by the ruling military junta. The bank, which will be the country's first financial institution to operate solely with crypto and blockchain technology, will have a trial run on July 22. The NUG established the bank to ensure the financial security of the people after the junta-controlled banks blocked accounts, seized deposits, and violated banking regulations. The Spring Development Bank is expected to be fully operational by the end of August.

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