Wyoming is poised to become the first U.S. state to issue its own stablecoin, the Wyoming Stable Token (WYST), with plans for its debut at the upcoming Wyoming Blockchain Symposium. While WYST will not initially offer a yield, discussions are underway to potentially enable this feature later, aimed at funding the state's education system. The issuance of WYST comes amid the recent passage of the GENIUS Act, which established guidelines for stablecoin regulation but has raised concerns among conservatives about central bank digital currencies (CBDCs). Supporters are arguing that WYST differentiates itself from CBDCs through its backing by U.S. Treasuries, as opposed to government-issued fiat currency. The state aims to retain its autonomy against federal requests that could limit access or freeze assets, highlighting Wyoming's long-standing skepticism towards Washington. Testing of WYST is currently in progress, confirming its ability to facilitate real-time payments using a blockchain protocol developed by a local startup. The unique approach taken by Wyoming may serve as a model for other states in the future.

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