Marshall Islands sets up non-profit to oversee national digital currency

posted 4 months ago
The Marshall Islands set up a non-profit organization to oversee the Pacific nation’s digital legal tender, the “Sovereign” (SOV).

The government said it expects the non-profit to promote the use of SOV both domestically and internationally, and to establish an environment in the Marshall Islands that is conducive to the growth of crypto-based industries. Intriguingly, the government stated that, with the SOV, it aims “to transition to an alternative governance model based on blockchain.”
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