Wyoming is set to become the first U.S. state to issue its own stablecoin, the Wyoming Stable Token (WYST), which could offer an alternative to central bank digital currencies (CBDCs). Although WYST will not initially provide a yield when it launches, Senator Chris Rothfuss hinted at the possibility of enabling it later to generate funds for Wyoming’s school system. This initiative follows the passage of the GENIUS Act, which aims to regulate stablecoins but has raised concerns about financial sovereignty among some lawmakers. Supporters of WYST advocate for its distinction from CBDCs, as it will be backed by U.S. Treasuries rather than just state resources. The token is undergoing a pilot program, with plans to debut at the Wyoming Blockchain Symposium, and will support real-time payments for government contractors. There is optimism among state legislators regarding WYST’s potential impact on the blockchain industry while maintaining a commitment to constitutional protections against federal intervention.

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