Maldives Crypto Hub: Ambitious Yet Risky?

The Maldives, an island nation nestled between Africa, Asia, and Australia, has boldly stepped into the crypto world. They've inked a $9 billion deal with Dubai's MBS Global Investments to transform the capital, Malé, into a global crypto hub. The project's cost overshadows the country's entire GDP, aiming to diversify beyond tourism and fishing. Meanwhile, in the US, pro-crypto Senate Democrats pulled their backing from a stablecoin bill, complicating its path forward. This legislative twist underscores the ongoing tug-of-war over crypto regulation in America.