Stablecoin Resurgence in the Northern Mariana Islands: Tinian Set to Launch $MUSD!

Jakarta, Pintu News – On May 9, the Northern Mariana Islands Senate successfully overrode Governor Arnold Palacios’ veto of a stablecoin bill. With a 7-1 majority vote, the bill now moves to the House for a final vote.

If approved, Tinian will be a pioneer in government-backed stablecoin issuance in the United States.

Check out the full news below!

Stablecoin Bill Approval Process

The stablecoin bill introduced in February, proposes the creation of the “Marianas US Dollar” (MUSD), a token backed by US cash and Treasury Notes. Tinian Municipal Treasury will manage issuance and redemption through the Marianas Rai Corporation.

Governor Palacios stopped the bill in April, citing legal concerns and possible overreach. However, Tinian Senator Karl King-Nabors defended the bill by stating that it is a transparent way to modernize online gambling.

Although Senator Celina Babauta opposed the reauthorization of this bill, cautioning about limited human resources and federal restrictions, it still received majority support.

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The Fight to Be First in the U.S.

If the Council approves the stablecoin bill, Tinian could potentially beat Wyoming in launching the first government-issued stablecoin in the US. The digital dollar token is planned to run on the eCash blockchain, which is an offshoot of Bitcoin Cash (BCH).

This marks a big step for Tinian and may be a model for other regions in the US. Proponents argue that the move could help Tinian recover from pandemic losses and attract innovation without harming the environment. “We need a new revenue model,” King-Nabors said. This is considered a significant step forward for the local economy.

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Broader Implications for Crypto Regulation in the US

The initiative comes amid a wider debate in the US over national crypto regulation. With Bitcoin (BTC) and other cryptocurrencies gaining greater political support, the Northern Mariana Islands may be leading from the edge of the Pacific.

This shows how small regions can play an important role in the adoption of new financial technologies. The ability of governments to oversee stablecoin policies and casino activity remains a prevailing question.

However, Tinian’s success in implementing a fully-backed stablecoin could serve as an example for other regions facing similar challenges.

Conclusion

With this bold move, Tinian not only has the potential to restore its local economy but also put the Northern Mariana Islands on the global map as a pioneer in blockchain technology and stablecoins. Their success could be proof that innovation and adaptation are key in facing future economic challenges.

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Reference

• Coingape. Stablecoin Bill: Northern Mariana Senate Overturns Veto. Accessed on May 13, 2025
• Featured Image: National Geographic Kids