Wyoming is set to become the first U.S. state to issue its own stablecoin, the Wyoming Stable Token (WYST). While the token will not initially offer a yield upon its debut, plans allow for future integration of this feature, which aims to support Wyoming's school system. The state's Select Committee on Blockchain has emphasized the need for WYST to resist pressures to become a political or financial gatekeeper. The recent GENIUS Act, which governs stablecoins, has raised concerns about a potential backdoor to Central Bank Digital Currency (CBDC) implementation among some lawmakers. Despite fears, proponents like State Senator Chris Rothfuss assure that WYST, backed by U.S. Treasuries, is fundamentally different from a CBDC. The token's launch is scheduled for August at the Wyoming Blockchain Symposium, as the state tests its capabilities with real-time payments to government contractors using blockchain technology. Overall, Wyoming's approach reflects a commitment to financial sovereignty and a distinct stance from federal regulations concerning digital currency.

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