The Northern Mariana Islands has enacted a bill permitting the island of Tinian to issue a stablecoin, overcoming a gubernatorial veto. The House voted 14-2 to override Governor Arnold Palacios' earlier veto, which had expressed concerns over legality and regulation of internet casinos and gambling impacts. The Senate previously supported the override by a 7-1 vote. The Tinian local government plans to issue the 'Tinian Stable Token', known as the Marianas US Dollar (MUSD), backed by US Treasury bills held in reserve. Tinian, with a population of just over 2,000, aims to establish a stablecoin before Wyoming, which has plans for a similar initiative. Local officials argue the legislation could attract significant investment to the struggling economy, despite some dissenting voices, including Representative Marissa Flores, who voiced concerns about reliance on casinos and being forced into decisions by financial desperation. Supporters believe the bill may unlock new economic potential for Tinian without relying heavily on tourism or federal aid.

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