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)
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