Stablecoin bill passes in Northern Marianas as House overrides veto

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. The 20-member Northern Mariana Islands House voted 14-2 to undo Governor Arnold Palacios’ April 11 veto of the bill, which allows 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 territory’s nine-member Senate had revived the bill on May 9, voting 7-1 in a two-thirds majority to override the veto, which then needed a two-thirds majority in the House to pass. Representative Marissa Flores (top left) had urged for “thoughtful deliberation” on the internet gaming and stablecoin bill source: https://cointelegraph.com/news/northern-marianas-house-overrides-veto-passes-stablecoin-bill?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound