The parliament of the Northern Mariana Islands, which have the status of an unprotored territory of the United States in the Pacific Ocean, voted for the launch of the Tinian Stable Token (MUSD) state stable of the executive branch.

The House of Representatives of the Northern Mariana Islands voted for the abolition of a veto imposed on the bill by Governor Arnold Palacios. 14 legislators voted for the lifting of the veto and only two deputies were against it. Six days before, on May 9, the local Senate also supported the abolition of a veto – with seven voices against one.

In March, the bill was adopted by the local parliament and sent for signing to the governor. However, the Governor Palasios called the bill contradicting the constitution, since in addition to the release of stablecoin, MUSD establishes the rules for licensing online casinos in the islands.

However, most legislators insist that the launch of stablecoin with an expanded strategy should revive the local economy.

The law will allow the municipality of Tinian and Agiguan to release the MUSD stabilcoin, provided with the US dollar and treasury bills stored in the reserve of the local treasury. The local government entered into an agreement with the Marianas Rai Corporation, which is going to become a MUSD deployment provider in the Ecash blockchain – Bitcoin Cash ABC. The co -founder of Marianas Rai Vin Armani is sure that the new law will attract billions of dollars to the local budget due to investment and tax deductions of participants in the cryptorrhist.

Last year, the authorities of the Paul Palace, together with Ripple, completed the first phase of testing the state stabelcoin Palau Stablecoin (PSC). The opposition Palau doubted the legality of Stablecoin PSC.