The US territory of the Northern Mariana Islands in the Pacific has passed a bill allowing Tinian, a small constituent island, to launch stablecoin, overriding an earlier veto by the governor.
The 20-member Northern Mariana Islands House of Representatives voted 14-2 to override Gov. Arnold Palacios' April 11 veto.
The bill allows Tinian's local government to issue Internet casino licenses and authorizes Tinian's treasurer to manage a "Tinian Stable Token."
On May 9, the territory's nine-member Senate revived the bill on a 7-1 vote, which requires a two-thirds majority in the House for passage.
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Initially, a four-member delegation from Tinian had unanimously transmitted the bill to Governor Palacios on March 12.