Northern Marianas Passes Landmark Bill: Government-Backed Stablecoin Issued

The Northern Mariana Islands just made a significant move in the world of cryptocurrency, passing legislation to launch its very own government-backed stablecoin. This landmark decision overturns Governor Arnold Palacios’ veto, paving the way for the issuance of the Mariana Dollar (MUSD). The USD is designed to be fully backed by U.S. dollars and government bonds, offering a more stable financial product that will boost the local economy. This move is seen as pioneering in the US market, potentially setting the stage for future policy changes and impacting the broader landscape of crypto regulation.