Stablecoin bill passes in Northern Marianas as House overrides veto

Description

The legislature of the US territory Northern Mariana Islands passed a bill allowing the island of Tinian to issue a government-backed stablecoin, overriding a veto by the governor who raised legal and constitutional concerns.

Authors

Jesse Coghlan

Publish date

May 16, 2025

Publisher

Cointelegraph

Web archive URL

https://archive.is/SxwNI

Web URL

https://cointelegraph.com/news/northern-marianas-house-overrides-veto-passes-stablecoin-bill

Referenced by

Northern Mariana Islands allow its island of Tinian to issue a government-backed stablecoin

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The Tinian government chose local tech services firm Marianas Rai Corporation as the exclusive infrastructure provider for MUSD, which will be launched on the eCash blockchain, a network that rebranded from Bitcoin Cash ABC in 2021

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Quote

The Pacific US territory of the Northern Mariana Islands has passed a bill allowing its small constituent island of Tinian to launch a stablecoin, overriding an earlier veto by the territory’s governor.

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