CNMI governor warns of risks in Tinian online gambling and crypto plan
Palacios criticised the legislature for overriding his veto on online gambling and the creation of a stablecoin.
Northern Mariana Islands.- Governor Arnold I. Palacios has expressed concerns after his veto was overridden to allow Senate Local Bill 24-1 to become law. The legislation would allow online gambling and the creation of a stable coin for Tinian.
According to Mariana’s Variety, Palacios noted the problems the Philippines had with offshore gaming operators and raised concerns about the regulatory abilities of the Tinian Casino Gaming Control Commission. He reiterated the advice of attorney general Edward E. Manibusan, who said that the Tinian and Aguiguan Legislative Delegation does not have the authority to regulate matters that are not strictly local to Tinian.
He said: “Maybe they got it right, but I think they should have taken the time to call the AG [so he could] explain what it is that he was saying. But we’ll see what happens.”
Senate Local Bill 24-1 was introduced by three senators, Karl King-Nabors, Frank Q. Cruz, and Jude U. Hofschneider. They argued that it would support Tinian’s efforts to diversify its economy and become financially independent.
