Wyoming is set to become the first U.S. state to issue its own stablecoin, the Wyoming Stable Token (WYST), next month. Initially, WYST won't offer yield, but discussions are ongoing about potentially enabling that feature. The state’s Select Committee on Blockchain urges the issuing body to resist political or financial pressures, especially concerning compliance with federal regulations following the passage of the GENIUS Act. This legislation raises concerns about centralized digital currencies but is seen as a means to encourage crypto adoption. Supporters argue that WYST is distinct from central bank digital currencies as it is backstopped by U.S. Treasuries rather than being created without backing. The token's main goal is to fund Wyoming's school system through generated income. The WYST is currently undergoing testing for real-time payments and is expected to be unveiled at the Wyoming Blockchain Symposium in August. Initially tested on networks including Ethereum and Solana, Wyoming sees its stablecoin as a step towards greater financial independence from federal oversight.

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