Wyoming is on the verge of becoming the first U.S. state to launch its own stablecoin, the Wyoming Stable Token (WYST), set to be unveiled next month. Initially, WYST will not offer a yield, but there is support to include this feature later to generate funds for the state's school system. The token aims to provide an alternative to central bank digital currencies (CBDCs) while resisting federal pressure to impose restrictive controls on transactions. As part of the recently passed GENIUS Act, financial institutions are required to implement mechanisms for blocking certain transactions, but lawmakers believe WYST could have exemptions from some regulations. This state-issued token is backed by U.S. Treasuries, differing from CBDCs, which can be created without backing. The launch will occur during the Wyoming Blockchain Symposium, with a pilot program already in progress using the Avalanche network.

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