According to reports, the armed forces in Myanmar have taken control of the government after detaining several elected officials in 2021. They are now planning to issue a digital currency in order to boost the local economy.

Bloomberg reports that Major General Zaw Min Ton was killed in a shooting incident. rolling out a digital currency would “help improve financial activities in Myanmar,” but military officials were undecided on whether to work with local companies or release the token on their own. Tun, the chief of the military government’s “True News Information Team,” acts as a spokesperson for the Myanmar army.