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cointelegraph.com Stablecoin bill passes in Northern Marianas as House overrides veto

The Pacific US territory of the Northern Mariana Islands has passed a bill allowing its small constituent island of Tinian to launch a stablecoin, overriding an earlier veto by the territory’s governor.The 20-member Northern Mariana Islands House voted 14-2 to undo Governor Arnold Palacios’ April 11 veto of the bill, which allows the Tinian local government to issue licenses to internet casinos and includes a provision for the Tinian treasurer to issue, manage and redeem a “Tinian Stable Token.” The territory’s nine-member Senate had revived the bill on May 9, voting 7-1 in a two-thirds majority to override the veto, which then needed a two-thirds majority in the House to pass.Representative Marissa Flores (top left) had urged for “thoughtful deliberation” on the internet gaming and stablecoin bill. Source: YouTubeOriginally, a four-member Tinian delegation to the Marianas legislature had unanimously passed the bill to Governor Palacios on March 12.It may put the Tinian government in the lead to be the first US public entity to issue a stablecoin, which it must do before July if it’s to beat the state of Wyoming government, which is aiming to issue a stablecoin by then.Tinian has just over 2,000 residents and a largely tourism-based economy. Its local government, the Municipality of Tinian and Aguiguan, is one of four municipalities in the Commonwealth of the Northern Mariana Islands, a US territory in the Pacific Ocean north of Guam.Governor Palacios said in a letter that he vetoed the bill as it “presents several legal issues and may be unconstitutional,” would regulate an activity that could not “be clearly restricted” to Tinian and that it lacked needed enforcement measures to counter illegal gambling.The stablecoin is called the Marianas US Dollar (MUSD) and will be backed by cash and US Treasury bills held in reserve by the Tinian Municipal Treasury, according to statements shared with Cointelegraph in March.The Tinian government chose local tech services firm Marianas Rai Corporation as the exclusive infrastructure provider for MUSD, which will be launched on the eCash blockchain, a network that rebranded from Bitcoin Cash ABC in 2021 and is a fork of Bitcoin Cash, a blockchain forked from Bitcoin.A Marianas Rai Corp. spokesperson did not comment beyond telling Cointelegraph the company would announce more on MUSD on May 19.“Bitter pill to swallow”Before the vote, House lawmakers heard from the public and discussed overturning Governor Palacios’ veto before they voted it through, with independent House floor leader Marissa Flores airing concerns over the bill.Marianas Rai Corp. co-founder and technology chief Vin Armani had urged lawmakers to undo the veto, saying the bill would “attract billions of dollars of investment and tax revenue” from the crypto industry without the government having to pitch in.Clyde Norita, a Marianas Rai Corp. director and local legal cannabis mogul, told the House that the local economy was “dying out” and the bill would allow business in the region “without affecting our culture, without affecting our environment, without affecting our immigration status.”Representative Flores, who voted against the override, said, "Every time we talk about casinos, there’s always some kind of bitter pill to swallow.”Related: Stablecoin regulation 'next catalyst' for crypto industry — Aptos head “It is true, we are in dire need of money, but what I don’t like is when we are desperate, and we are now forced to make a decision because we are desperate once again,” she added. “Every time we’re desperate, it always seems that we come back to casinos.”“I don’t like to be pushed to a corner to make a decision based on fear,” Flores said.Others were more supportive of the measure, with Republican Representative Patrick San Nicolas, a Tinian delegation member who initially voted on the bill, saying it would help pull the region out of “a deep economic crisis.”“We need this legislation to unlock our potential,” he added. “This bill does not depend on tourists or federal subsidies — it builds a digital industry generating revenue from a licensed jurisdiction.”Legal Panel: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight 

news.bitcoin.com Digital Euro Launch Awaits EU Legislative Approval, Says ECB Chief Lagarde

The European Central Bank is racing toward the launch of a digital euro, driven by surging consumer demand and the need to unify Europe’s digital payment landscape. ECB Close to Digital Euro Launch to Meet Consumer Demand, Maintain Cash and Digital Balance European Central Bank (ECB) President Christine Lagarde confirmed on June 12 during an […]

bitcoinist.com The 5 Bullish Cases That Says Ethereum Price Could Reach $10,000 In 2025

With the Ethereum price still trending low at $2,500, there is a lot of uncertainty surrounding the altcoin and where it could be headed. Mostly, expectations have fallen into the negative territory, with many predicting that it will continue its decline from here. However, there are some who continue to hold out hope for the […]

news.bitcoin.com 14,000 Crypto Accounts Swept Into IRS Data Grab—Will the Supreme Court Act?

The Supreme Court is being urged to dismantle a controversial IRS tactic that allowed warrantless data grabs from 14,000 crypto users, redefining privacy rights for the digital age. Mass IRS Record Seizure Hits 14,000 Crypto Users—Can the Supreme Court Push Back? A constitutional showdown over the privacy rights of cryptocurrency users could reshape how digital […]

news.bitcoin.com $680K From Crypto Exploit Recovered: DOJ Returning Funds to Victim

The U.S. Department of Justice has recovered $680,000 tied to a crypto exploit and is in the process of returning funds stolen through a Safemoon smart contract vulnerability. DOJ Recovers Funds Exploited in Safemoon Attack The U.S. Department of Justice (DOJ) announced on June 12 that it has seized and is in the process of […]

news.bitcoin.com Bitcoin Going to $1M: Saylor’s Call Revives Interest in Adam Back’s 21M BTC Order

Bitcoin’s bullish momentum erupts as top voices target $1 million, reigniting buzz around a legendary bid to snap up all 21 million BTC at $0.02. Saylor Declares $1M or Zero for Bitcoin—Adam Back Says $1M BTC It Is A pronounced uptick in bullish sentiment surrounding bitcoin unfolded across social media platform X on June 13, […]

news.bitcoin.com Bitcoin Eyes $30T Treasury Store of Value Market, Says Bitwise CEO

The $30 trillion in U.S. Treasuries used as a store of value is bitcoin’s real opportunity, positioning itself as the next financial safe haven as confidence in government debt unravels. Bitwise CEO: Bitcoin’s Opportunity Is the $30T Held in Treasuries as a Store of Value Asset management executive Hunter Horsley, CEO of Bitwise, expressed a […]

news.bitcoin.com XRP to Seize 14% of SWIFT’s Payment Volume in 5 Years, Predicts Ripple CEO

Ripple’s CEO says XRP is positioned to capture 14% of SWIFT’s cross-border payments market within five years, as liquidity eclipses legacy messaging systems in global finance. XRP on Track to Seize 14% of SWIFT’s Market by 2030, Says Ripple’s CEO Ripple CEO Brad Garlinghouse voiced confidence in XRP’s strategic position in global payments last week […]

news.bitcoin.com Macro Takes Over, Bitcoin Takes a Breather

Last week, while headlines screamed of nuclear escalation, trade ruptures, and political drama, Bitcoin held its ground with only a minor pullback. Bitcoin Holds Steady as Macro Heats Up Bitcoin traded up early last week before fading to finish roughly 3.5 % lower than last Friday. Bitcoin and equities stalled last week, as the focus […]

ambcrypto.com Bitcoin’s tug of war: Whale bets $200M as shorts stack to $1B - What next?

Aguila Trades, the top trader on Bybit with profits over the past year, moved to Hyperliquid, and now he's back to long BTC with 20x leverage. Based on the MVRV Pricing Bands, if BTC breaks belThe post Bitcoin’s tug of war: Whale bets $200M as shorts stack to $1B - What next? appeared first on AMBCrypto.

news.bitcoin.com ZKJ Token Plummets More Than 60% in Flash Crash Amid Rug-Pull Allegations

On June 15, ZKJ, the native token of Polyhedra Network, suffered a sudden and steep collapse, plunging more than 60% from $1.98 to a record low of $0.7625 in just under two hours. ZKJ Revival Short-Lived On June 15, ZKJ, the native token of Polyhedra Network, suffered a flash crash, plummeting by more than 60% […]

bitcoinist.com Crypto Just Got Pricier In Brazil: 17.5% Tax Kicks In

Brazil’s finance ministry has moved to simplify crypto taxes, swapping a tiered system for a single flat rate. On June 12, Provisional Measure 1303 took effect, scrapping the old break that let residents sell up to R$35,000 (about $6,300) in crypto each month tax‑free. Now, every capital gain from digital assets faces a 17.5% levy. Related Reading: […]

news.bitcoin.com Trump on Middle East Chaos: ‘It’s Possible We Could Get Involved’ as Markets Brace for Fallout

On Sunday, June 15, 2025, the crypto economy edged up 0.92%, cruising at a total valuation of $3.29 trillion. Gold ticked higher by 1.37%, and silver posted a modest 0.17% gain against the U.S. dollar over the past 24 hours. Meanwhile, last week’s stock market momentum faded after an Israeli airstrike on Iran prompted a […]

btcmanager.com Chart of the week: XRP rally to $7 likely with Ripple’s bullish announcements?

Ripple is making progress in its long drawn legal battle with the US Securities and Exchange Commission with plans for a $50 million settlement. A joint filing made the headlines following several updates on firms planning to raise funds for purchasing XRP and holding it as a treasury asset. Experts examine whether it is a “pump and dump” tactic to take advantage of sidelined traders or XRP could rally towards a new high in 2025.

news.bitcoin.com $1.5B in Crypto Still Sits in the Ruins of Firms Like FTX, Terraform, Celsius, and Blockfi

Over the past few years, a wave of digital asset firms collapsed for a mix of reasons—some dragged down by earlier disasters like the FTX and Terraform Labs fiascos. Here’s a closer look at a handful of wallets tied to those now-defunct ventures and a glimpse at what’s still sitting onchain. Collapsed Crypto Entities Still […]

bitcoinist.com Bitcoin Golden Cross Suggests Potential Surge To $229,000 – Details

In the past month, Bitcoin (BTC) prices have shown little growth with a range bound movement between $103,000 to $110,000.  Since establishing a new all time high of $111,931 in late May, the premier cryptocurrency has witnessed significant levels of selling pressure forestalling further levels of price discovery.  Amidst this current market set up, popular […]

btcmanager.com Trump’s $57m windfall, Ripple’s SEC deal, and SharpLink’s $463m ETH Bet | Weekly Recap

From President Donald Trump’s $57 million crypto windfall to Ripple’s near-final settlement with regulators, last week marked a turning point for digital assets in both regulation and institutional adoption. Here’s our weekly recap: Trump discloses crypto profits Hoskinson proposes Cardano…

news.bitcoin.com Bitcoin Plummets on Israel-Iran Conflict, Bitcoin Liquidations Surge to $1.16 Billion, and More — Week in Review

Bitcoin plummets on Israel-Iran conflict, Bitcoin liquidations surge to $1.16 Billion, Robert Kiyosaki declares civil war has begun, and more in this Week in Review. Week in Review Bitcoin plunged below $104,000 following Iranian airstrikes by Israel. The dip triggered a wave of liquidations totaling $1.16 billion. Economist Peter Schiff seized the opportunity to criticize […]

themerkle.com $FUN Ecosystem Gets a Boost With AI Agent Integration

FUNToken Unveils AI Agent That Rewards Users Instantly — 40,000+ Already Onboard FUNToken, the Web3 utility token reshaping digital rewards, has launched a powerful new Telegram bot that pays users in crypto for contributing high-quality content — from clever memes to insightful posts. With over 40,000 users already participating, the launch signals the start of a broader mission: building an AI agent that powers real-time, ad-free rewards across games, chats, and apps. But this bot is just the beginning. Behind it is a sophisticated AI system being trained to evaluate user engagement at scale — and eventually, reward millions of The post $FUN Ecosystem Gets a Boost With AI Agent Integration appeared first on The Merkle News.

news.bitcoin.com Latam Insights: Paraguay’s Bitcoin Legal Tender Hack, Brazil’s Crypto Tax Update

Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this week’s edition, Paraguay’s President Santiago Peña gets hacked, Brazil updates its crypto taxation regime, and crypto remittances fell 45% in El Salvador. No One Fell for It: Paraguay’s Bitcoin Legal Tender Announcement Was a […]

news.bitcoin.com Saylor Signals Another Bitcoin Buy—Orange Dots Strike Again

On Sunday morning, Michael Saylor—the co-founder and executive chairman of Strategy (formerly Microstrategy)—teased another potential bitcoin ( BTC) buy by posting a fresh chart from the Strategy portfolio tracker. “Bigger Dots are Better,” Saylor declared on X on Sunday morning. He’s become known for this Sunday ritual, where he shares a snapshot of Strategy’s bitcoin […]

bitcoinist.com Altcoins Set To Outperform Bitcoin In The Coming Months — Blockchain Firm Explains Why

The talk around an altcoin season has been on the lips of the members of the crypto community since the start of the year. However, most altcoins have been unable to sustain any meaningful bullish momentum over the past few months. Interestingly, a market intelligence firm has come forward with the projection that these digital […]

bitcoinist.com ‘iPhone Moment’ For Stablecoins Is Coming Soon, Circle CEO Claims

According to Circle CEO Jeremy Allaire, the world of stablecoins is on the verge of a big shift. He compares the moment to the iPhone’s launch in 2007. Right now, digital dollar developers are watching closely, but not every team has jumped in yet. Major retailers and fintech firms are testing the waters. The coming […]