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The small nation of about 53,000 people is located in the middle of the Pacific Ocean is quietly working on a project that could have a major impact on how cryptocurrency is treated by both investors and government actors .

The Marshall Islands is launching its own national cryptocurrency token named the Sovereign, or SOV, which will be legal tender for citizens and businesses on the island and worldwide.  To know more, join the SOV official Telegram group: https://t.me/officialsov

Source: https://thefreenewsman.com/the-marshall-islands-goes-crypto/518037/

see the  fact is countries will continue  to Que in ,no option to ban again  hey folks lets watch the numbers go up up and up

its happening much faster than we expected. crypto is spreading around the world. so we can expect greatest growth in 2018 and 2019. anyway this news is great for that country and for entire crypto community

I think this is a great news, now cryptocurrency is distributed to the most distant places on Earth. This will particularly affect the tourism industry in this area, as people who are visiting will be able to pay a crypt to make this coin grow.

It's good for the small island nation in the pacific. With embracing cryptocurrency and exchanges, it can be the next gem of pacific, like Malta of Mediterranean or Bermuda of Atlantic.
Crypto will bring more money and jobs to the land. 

They are not the first country that implements that, so far none of them had a good success but I want them to succeed so we will have a good model on how a country can properly implement this, anyway, they have a small number they can do it if the authorities can properly do it.

This is a great news, if it is true. The usage of cryptocurrency will grow faster and this positive example will show other small countries all advantages of blockchain technology.

I've searched for some articles if this is legit and after looking, I've seen that this news was around February this year.

Well that's true, there are some countries that already did this and sadly they didn't made too much with it but I like the adoption that they are showing through crypto's.

The people of Marshall Islands clearly understood what is the future. I think if they do utilize this opportunity in a proper way, they will be developed in a very short time.

yes I also heard about this news that Marshall island is lunching their own national token,  it is actually a very positive move from them for the cryptocurrency developments it is high time for the rest of the world to accept this for better economic progress

There are approximately 53000 people living in the Marshall Islands. There are chances of the crypto market. There SOV started tokens nationally. Which are highly secure and promising. I think it will do better.

If it’s really felt impact on crypto world it will be great. This type of project need much in new world and these will carry the cryptocurrency on peak.

Wow Pakistan is considering and now it looks like the Marshall Islands is enacting a crypto currency policy.  Hopefully this is the sovereign governments making these decisions and not central bankers.

SOV has released tokens nationally on the Marshall Islands. I think that's a good sign for the crypto market. This is very profitable and reliable. I think its future will be very bright.

A nation whether it is big or small, interested in cryptocurrencies deciding to launch one of their own tokens, is really an interesting and motivating news for crypto enthusiasts. For the time till now, they used US$ in exchange and trade. If they launch SOV, their own crypto token, They will use it in every sphere which will flourish Crypto space, eventually.

Yes I have heard about that, and for me it seems like some reality show when guys would try something new and undiscovered and all the world can follow them and see what will be happening there.

It is a good tool and chance, especially for a small countries, to grow their economy fast. Accepting crypto they can boost their development too much. Countries that accepting crypto now definitely will have a lot of impact in the future.

Yep. Its a good news to hear and its a learning news for other small and big countries to learn lessons from this small country with little population which has gone tech savvy. This news has to be spread across the world to reach each and every one who is scared about crypto and thinks negative about it. Really this is an amazing news to be spread across.

This news is really very good and can have a positive impact. Prices of course are unlikely to start to grow, but nevertheless recently we have lacked positive news!

It’s a very good news. As It’s a very small nation the governing body easily monitor the system. I think it’s a very good decision to run own cryptocurrency token. I believe it will be a legal tender for citizen and business.

Wow.  Everything happens much faster than expected, but this has its pluses!

From my point of view it’s a awesome initiative. Own nation cryptocurrency provide lots of advantage. As its only 53,000 people so its very easy to monitor the process. I think it will be successful.

Yes, I think this is good news, and more and more countries recognize cryptocurrencies, which are spreading around the world. The leadership of their country is smart. I hope other countries can learn.

Good news for cryptoindustries since people are getting interest in cryptoworld. I think The Marshall Island is launching their own national crypto token for her people for economic betterment and for huge profitability of crypto investment.

I read the article on the site that you suggested and what I want to say. This is the third country that creates its own cryptocurrency on blockchain technology. Of course, it is a pity that it will not be an anonymous currency, but a centralized one.

It will not be anonymous because it is created by the government. And this in itself imposes centralization. Besides, KYC will be necessary, so you can forget about anonymity. The idea itself is very interesting and I am curious if it will work and how popular it is to gain this currency. However, this is a small community of people living there.

One point I've seen brought up before in relation to state-sponsored cryptocurrencies is the aspect that taxation can be built into the code, which makes it unavoidable. What I find interesting is that they are using an Ether token that will be pegged to USD, and that the only wallets allowed to transact on the blockchain will have gone through KYC.

The issue I see here is that although they say the token is decentralized and not controlled by the government, they will still have the authority to see who sent who money and how much at any point. On the plus side, that makes it easier to crack down on illegal substances, but on the negative side, what will they call illegal next? And while I don't anticipate much nefarious activity going on from the Marshall Islands government, there are other governments that would love to have this much control (Can I say, for starters, Russia and China?).

Control is power, and power corrupts. I don't think this is what Satoshi Nakamoto had in mind for the great future of cryptocurrency. Actually, I think it pretty much goes against everything he envisioned for Bitcoin.

Anyway, it will be interesting to see how this Marshall Islands scenario plays out, and how it affects the perspective of other governments thinking about adopting cryptocurrency.

Coins sold in the country indicate that their country has accepted cryptocurrencies and that they see the future of cryptocurrencies and are also promoting cryptocurrencies. I think this is a good thing. It is worthy of publicity. Let more participation come in.

I know a little about this, the idea is developed by Israeli fintech comany named Neema. Sovereign token which will be legal for all citizens, businesses on the island and worldwide so feeling happy for this.

Government support just brings more positivity for the country as a whole to embrace the crypto market. No money laundering or taxes for this market, what a clean initiative taken,. which will take this economy a long way further up. An example set for others.

I really like this news. It's a great idea for small countries that don't have their own currency to give crypto a chance. I'm sure that in the future there will be many more counties that will launch their own crypto coins.

Even such small but positive steps towards legalization and acceptance of cryptocurrency is a good sign for the global community that tells us the world won't be the same soon, and blockchain technology will make it better!

This is a very good news, the Marshall Islands have made an excellent decision that will favor the growth of the blockchain sector even outside their country. I hope that there are other states that follow his example, even without creating their own cryptocurrency, the important thing is to try to make decisions in favor of this sector

It's a good project and I hope it can bring a lot of changes to the country.
It might also be able to make the Cryptocurrency market go back green.

The best breakthrough for a country with little population and I support it.

That is an awesome news. I hope more and more people adopt to the cryptocurrency and i believe that is going to happen sooner or later. But this news will prove to the first drop of the rain. So stick to cryptos, don't loose trust in them and hold tight.

you know guys i like the fact it's just islands ans still they are in flow. so the question is, why these countries that are certainly can afford crypto ban it instead??

Those countries adopting crypto at an early stage will have a big impact in the society. I mean the GDP growth will rise from dip, eventually the citizen will be happy to use the use of cashless society.

Great, that's fantastic news which I hope does get implemented. Any country now making this smart decision to include crypto will only benefit from the system.

We are now beginning to see advancement in blockchain technology  and cryptocurrency. Countries are now beginning to embrace it. Crypto is also getting into more limelight.

Sure, why not. They always been offshore for the companies and now many countries do exchange the information. Thus, they can not earn that much on the shell companies anymore and crypto is a great industry to get involved. If they will introduce some regulations and security, the nation will be doing pretty well.

I believe the success rate for a very small community is high.
It's easy to manage such kind of community rather than a big one.
They need to start small, and they can easily alter the business model if it is not working on them.
I'm hoping that the government will not charge high taxes or if possible, no taxes at all.
Let's see on how far they will achieve success when they integrate crypto in their daily lives.

In small steps there is a good trend, I hope that the cryptocurrency will become popular.

This is really a good news and I am really happy for the Marshall islands people who are really taking the cryptocurrency in a big positive manner. I think this type of moves will automatically create belief in common people and it will give them enough trust and belief on the Cryptocurrency market by which everyone will start taking some steps towards Cryptocurrency investments. I hope many countries will start thinking and take positive steps similar to the citizens of the Marshall Islands.

Glad to see even very small countries opening up to cryptocurrency, I guess the old saying governments move slow isn't as apparent there as the governments are a lot smaller and hence the interconnectedness and flow of information is probably a lot better. I doubt it will fruitful as they are still a relatively unknown country probably just pulling off a publicity stunt, but it's nice to see in any case.

Seem like this is a good news for cryptocurrency world but this country need to be able to control their token as long as possible to be not taken advantages by crimes to commit guilty like money laundering or drugs trafficking :). Seem like this country is trying to take the risk to make a big change in the whole world :).

Really interesting.
I've seen that the countries that have been the most interested in crypto have been developing or impoverished nations.
But, then again you have Russia and UAE who are crazy to become the world's crypto capitals.

Of course, I wish them the best of luck, but my impression is that it won't have much of an impact.
After all, if there are only 53,000 citizens, then your potential user base is incredibly small.
Most of these small countries use a stronger foreign currency or peg their currency to the us dollar.
I wonder if a situation will arise where the Sovereign will be pegged to Tether or something.
That would be crazy meta, a crypto tied to a crypto that is tied to the USD.

Of course in this case, Tether would be terrible because it actually isn't backed by usd at all...

Not surprised, soon even more will follow. The people who are looking to the future knows that there is no way that cash will survive for much longer, the future is cryptocurrencies, and the countries that are taking the lead now will be the ones with the strongest cryptos when the rest of the world finally catches up and starts to make use of cryptos.

Good news for cryptos when looking at it. With news like this coming out and people seeing that more and more governments are starting to accept cryptos, it will wake people to the fact that cryptos are here to stay, they can either get in with the moving train now or get left behind. This is really good news which will have nothing but positive impact on the market in the days to come.

If this is really true, then this is very cool news, but now I can not believe it, because I do not understand how it is possible today if the SEC and similar organizations can not accept the many details that could allow it to be done.

Great news. I wish good luck to this project. It is necessary to urge all developing countries to introduce in their countries. This will help increase the capitalization of the crypto market.

Good news. Already many countries are friendly towards crypto-currencies. When crypto-currencies are popular in all countries of the world, then Bitcoin will be able to become a means of payment.

Its good! Already many countries are friendly to cryptocurrencies. In my opinion, they will soon launch their own coin.

This and other informations are all clear evidence that cryptocurrency is gaining ground and that this technology has come to stay.

Maybe it's also there evenly for technology including fiber cable i = optics for the internet.
Given that the Marshal Islands are very far off the coast and that is also good news for cryptocurrency.

With 53,000 population i might say this is not a big impact in crypto community since even if they use as legal tender but the place is tol far from civilization of being island

But lets be hopeful that this would bring to their economy good effect and not like Venezuela,instead its better to be like japan in which they are using bitcoin as legal tender considering that Yen is a good currency