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Tinian Overrides Veto to Launch Public Stablecoin Ahead of US Jurisdictions
Tinian Overrides Veto to Launch Public Stablecoin Ahead of US Jurisdictions
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The Northern Mariana Islands’ constituent island of Tinian has overturned Governor Arnold Palacios’ April veto, clearing the path for a government-issued stablecoin. A 14-2 legislative vote empowers the Tinian treasurer to manage the "Tinian Stable Token" (MUSD) – potentially making it the first US-affiliated jurisdiction to launch such a digital currency by July.
Backed by cash and Treasury bills, the MUSD will operate under Mariana’s Municipal Treasury oversight. The MOVE coincides with new licensing for online casinos, suggesting an integrated approach to digital finance and regulated gaming. This development challenges the narrative that stablecoin innovation must originate from private sector entities or larger governments.
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