Bitcoin Forum

SOV is the world’s first cryptocurrency, which is a legal tender of a sovereign nation. 

Republic of the Marshall Islands (RMI) is a sovereign country, member of the UN since 1991, consists of 29 Atolls and 1156 Islands.
The RMI is in the South Pacific and despite a small land area, its ocean area is one of the largest in the world.
 
On Feb 26th, 2018, the RMI, has passed a law to issue and declare the world’s first crypto legal tender.
From the “Declaration and Issuance of the Sovereign Currency Act 2018”:
“A bill for an act to declare and issue a digital decentralized currency as a legal tender of the Marshall Islands for all debts, public charges, taxes and dues.

The RMI declares the Sovereign (“SOV”) as legal tender of the Marshall Islands for all debts, public charges, taxes and dues.
The SOV shall be introduced via an Initial Currency Offering (ICO)”
Join or Telegram group @ https://t.me/officialsov

This is certainly good news, perhaps in time we will see something similar in the other developed countries

This is interesting, and might be looked at like a milestone from a time in the future.

However I dont see it as a gamechanger, maybe if a country with stronger economy does it, that would be clearly exciting.

Honestly I'm more impressed by the coming bull market than this news. A small state, if one can call it that, set an experiment and decided to introduce a crypto currency as the main one. Earlier on the islands instead of money conchs were paid.

This is a joke I think, the most exciting news in the space, the project might be a good idea but I don't think you people understand that the space is changing. I could remeber project like Egaas has something similar to this, the project is dead now and people lot money in this

I agree with you, this news is actually not very interesting, I think in the coming bull market people will exit too earlier. Market will grow more than most people predict.

this news is good, but not the most exciting news in crypto world,,
and in this bull run of market capitalizations of cryptocurrency, i believe without this news crypto marketcap will growing  ;)

Well, that's good news for the people of marshall Islands but it is no way the most exciting news. It will not even make the top 5 most exciting news in cryptoworld today. So much for sensationalism!

Lot things were taking place around the cryptocurrency network. This is one among that, and I don't think this is gonna make a big change as the usage from the small Island will be very small compared to the usage from legally accepted nation Japan. Right now the sensational news is the price pumping which is due to the tax day.

That is really a cool way of legalizing  the right for issueing cryptocurrency. But don't forget that Estonia was the firt country to make changes into the law for legalizing crypto currencies and crypto wallets

I'd like to see and read the link on their official announcement, there are so many hype now about ICO and yours is not new I still consider your post a hype for upcoming coin, and besides why launch an Ico, it is a country right not a company what are they trying to solve with it.

I've check and just read the article that during Q3 of this year they will implement a cryptocurrency that will be considered as a legal tender of the county alongside with the current fiat money that they have. For a county that is very small, with only 53,000 population, I guess this is something feasible for them. Good luck Marshall Island.

signs for crypto currency has become very very very  popular in the world because the small country recognized bitcoin and knows bitcoin as currrency
this great for us another good news for all nothing doubt crypto currency still strong in the world market cap.

that's a good news for a country that will use crypto technology to use and legalize in the country because I think it definitely has a lot of significant benefits.

This news is certainly a positive step for the mainstream acceptance of crypto currencies. Some months ago, Venezuela issued its cryptocurrency "Petro" and has recently offered 30% discount to  its oil buyers if they use Petro for payments. More countries will join the crypto revolution over time.

Not the most exciting news as someone already pointed out but a upstart in countries embracing cryptocurrency instead of fearing it.

With all the news about more and more countries out right banning it's use
It is sort of refreshing to hear something good then what is going on in Algeria, Iran, Syria and Bangledesh.
Australia is limiting on the amount of bitcoin allowed to be purchased which is not good for a first world country to start doing either.
https://www.newsbtc.com/2018/05/11/australians-look-to-bitcoin-as-government-bans-a10000-cash-payments/

This amazing news information about Republic of the Islands Sovereign currency(SOV) is a welcome development for the crypto world of business. It's going to boost the world financial landscape economy.

It is a heartening piece of good news, and I hope more and more countries will recognize the status of bitcoin.