Wyoming is set to become the first U.S. state to issue a stablecoin, the Wyoming Stable Token (WYST), anticipated to launch next month. Initially, WYST won’t offer a yield, but state lawmakers are considering enabling this feature later, as funds generated could help support the state's school system. The issuing body expresses hope to resist pressures to act as financial gatekeepers under the new GENIUS Act, which some fear could lead to a centralized digital currency. WYST is designed distinctively, as it is backed by U.S. Treasuries and aims to uphold constitutional protections, ensuring that federal requests for fund freezes require valid court orders. WYST is undergoing a pilot program and plans to debut at the upcoming Wyoming Blockchain Symposium, with options for deployment on networks like Ethereum, Solana, and Avalanche. This initiative reflects Wyoming's unique political climate where a distrust of federal authority is prevalent, emphasizing state sovereignty in financial matters.

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