The Marshall Islands" is gearing to release a digital currency this year, although officials acknowledged Friday there is much work still to be done to alleviate concerns of United States financial regulators.
However, the launch date of the currency, known as the "SOV", has yet to be decided.
"We plan to launch SOV this year," said Barak Ben Ezr, chief executive officer of Neema, the Israel-based company that is partnering with the Marshall Islands government to develop the digital currency.
A primary issue for the launch is that following the boom in 2017 and early 2018, the crypto-currency market value has plummeted.
"We are working days and nights to prepare the foundations of the SOV initial coin offering, with the goal of being ready to launch once positive momentum is back to the markets," Ezer said.
"It will be done once all stakeholders are convinced that SOV is ready, risks have been mitigated, and momentum is building." Neema and the Marshall Islands are working through a ..


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