Marshall Islands 1st country to launch own cryptocurrency as legal tender

[Crypto_loca]

The Marshall Islands has put a bill in place to make a cryptocurrency named the Sovereign (SOV) its national legal currency. The development is particularly interesting because, as the legal tender of a non-sanctioned UN member country, global financial institutions (banks and credit card companies) are obligated to accept it. The country will continue to use the US dollar alongside the SOV. Know more by joining the SOV official Telegram group: https://t.me/officialsov

Source: https://www.rt.com/business/420419-marshall-islands-sovereign-cryptocurrency/

[bitChipper]

Pretty interesting..takes a country coin to a whole new level when the government (albeit tiny) decides to airdrop coins on it's residents:

"The islands will distribute 2.4 million SOVs to its 67,000 residents. Six million SOVs will be sold to international investors"

We will see how it pans out though, seeing as how the US and rest of world has treated Venezuela ....