On May 12, according to Cointelegraph, the Senate of the District of the United States in the Northern Mariana Islands voted 7-1 to overturn the governor's veto of the stablecoin bill. The island may get a second chance to launch a stablecoin. The bill allows local governments to issue US$1:1 collateralized "Marianas USD (MUSD)" stablecoins. If the 20-member House of Representatives overturns the veto again with a two-thirds majority, the Pacific island with a population of only 2000 may overtake Wyoming (which plans to issue coins in July) as the first U.S. jurisdiction to issue official stablecoins. Democratic Congressman Celina Babauta opposed the bill citing "lack of law enforcement resources," but Republican sponsor Jude Hofschneider emphasized that blockchain technology could enhance transparency in the industry. Technical partner Marianas Rai revealed that MUSD will be developed based on the eCash chain, with reserves of cash and U.S. bonds.