RATE Group | Marshall Islands President Attacked Over National Cryptocurrency Plan
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Marshall Islands President Attacked Over National Cryptocurrency Plan

07 Nov Marshall Islands President Attacked Over National Cryptocurrency Plan

Posted at 08:30h in Cryptocurrency News by

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Marshall Islands President Attacked Over National Cryptocurrency Plan

News

Dr. Hilda Cathy Heine, President of the Marshall Islands, is facing a political attack for her support of a planned national cryptocurrency. If the move is successful, it may dissuade other leaders from opening up to the new technology opposed by the IMF.

Also Read: Lawyer Invests $300 Million to Build Crypto City in the Nevada Desert

No Confidence in SOV

Marshall Islands President Attacked Over National Cryptocurrency PlanOn Monday, eight Marshallese senators introduced a motion of no confidence against President Heine for her backing of a national digital coin. The Sovereign (SOV) was announced back in February of this year, promoted by the team behind Israeli remittances startup Neema.

The main point emphasized by those against the national currency is that it will hurt the country’s reputation abroad. “I don’t…

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