The Wyoming Stable Token (WYST) is set to be introduced next month, marking a significant step in the state’s approach to cryptocurrencies. Initially, WYST will not offer a yield, but plans for this feature may be considered in the future. The introduction follows the recent passage of the GENIUS Act which could affect the adoption of cryptocurrencies while raising concerns about centralized digital currencies (CBDCs). Wyoming’s state officials express intentions to ensure that WYST remains distinct from CBDCs, which are centralized digital representations of fiat currencies. They emphasize the importance of blockchain transparency and limitations on freezing transactions without valid court orders. State officials believe that Wyoming's constitutional protections will allow WYST more freedom compared to private sector stablecoins. The launch is anticipated during the Wyoming Blockchain Symposium in August, supported by a pilot program that will facilitate real-time payments to contractors using a blockchain protocol. This initiative reflects the Cowboy State's long-standing skepticism of federal oversight and its aim to create a constitutionally compliant digital currency environment.

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