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.
No Confidence in SOV
On 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.