Northern Mariana Islands Passes Bill for Government-Backed Stablecoin

The Northern Mariana Islands, a U.S. territory in the Pacific, has passed legislation allowing its Tinian island to issue a government-backed stablecoin. The move comes after lawmakers voted to override Governor Arnold Palacios’ veto of the bill. 14-2, the House vote followed a 7-1 Senate decision to overturn the governor’s rejection.