Wyoming is set to introduce its own stablecoin, the Wyoming Stable Token (WYST), aiming to offer a yield-bearing alternative in the crypto sector. While the token won't initially provide a yield, state officials, including Senator Chris Rothfuss, express strong support for the feature in the future. The introduction of WYST comes amidst the recent passage of the GENIUS Act, which some legislators fear may erode financial sovereignty. This bill mandates procedures for freezing transactions but may not apply to state-issued tokens like WYST. The token is backed by U.S. Treasuries, distinguishing it from central bank digital currencies (CBDCs), which can be created without backing. The Wyoming stablecoin aims to enhance funds for the state's educational system through its operational revenues. The WYST is expected to debut at the Wyoming Blockchain Symposium and could be initiated on networks including Ethereum and Avalanche.

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