Wyoming is set to become the first U.S. state to issue its own stablecoin, the Wyoming Stable Token (WYST), anticipated to launch at the Wyoming Blockchain Symposium in August. Initially, WYST will not offer yield, but discussions indicate potential for this feature in the future, aiming to fund Wyoming's education system. The recent GENIUS Act compels institutions to block or freeze specific transactions but may not fully apply to state-issued tokens like WYST, sparking debates on financial sovereignty and regulatory implications. Some lawmakers, while supporting stablecoin regulation, express concern over potential overreach by federal agencies. WYST is expected to utilize U.S. Treasuries for backing, differing from centralized digital currencies. The Wyoming Select Committee on Blockchain is eager to resist external pressures and uphold constitutional protections, ensuring WYST serves as a viable, state-backed alternative to CBDCs, amid ongoing discussions about crypto's future within the regulatory landscape.

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