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

March 5th, 2018
Categories: Past News

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

The Marshall Islands is creating its own digital currency in a bid to raise money. In doing so it becomes the first country in the world to recognize a cryptocurrency as legal tender.

The small Pacific Island nation passed the Sovereign Currency Act to create the ‘sovereign’, or SOV on Monday, following days of debate. The cryptocurrency will have equal status with the US dollar and, unlike many cryptocurrencies, users will have to reveal their identity in order to use SOV.

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