Wyoming is set to launch the Wyoming Stable Token (WYST) as a potential alternative to central bank digital currencies (CBDCs). Although the token will not initially offer yield, there is a future possibility for it to do so, according to State Senator Chris Rothfuss. There's a concern among some lawmakers regarding the GENIUS Act, which regulates stablecoins and may infringe on financial sovereignty. Critics view the Wyoming Stable Token as a state-backed CBDC, while proponents argue it is fundamentally different because it is backed by U.S. Treasuries and is subject to constitutional protections. The state plans to debut WYST at the Wyoming Blockchain Symposium, with testing currently in progress to ensure efficient real-time payments to government contractors. Wyoming aims to navigate federal compliance flexibly and may resist federal oversight on requests to seize or freeze assets. This initiative reflects Wyoming's long-standing strategy to foster a favorable environment for crypto and blockchain technology under state sovereignty.

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