Stablecoin bill gets second chance with Northern Mariana lawmakers

Tinian, a small island in the US territory of the Northern Mariana Islands, could get a second chance at launching a stablecoin after the territory’s Senate voted to override the governor’s earlier veto of its stablecoin bill. On May 9, the Northern Mariana Islands Senate voted 7-1 to override Governor Arnold Palacios' April 11 veto of the bill, which would allow the Tinian local government to issue licenses to internet casinos and includes a provision for the Tinian treasurer to issue, manage and redeem a “Tinian Stable Token. ” The bill will now head to the 20-member Northern Mariana Islands House, which will need a two-thirds majority vote to override the veto and pass the bill into law. If the House is quick to pass the bill, the Tinian government could be in the lead for the first US public entity to issue a stablecoin source: https://cointelegraph.com/news/tinian-stablecoin-bill-comeback-mariana-senate-override-veto?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound