Wyoming is poised to introduce the Wyoming Stable Token (WYST), a state-backed stablecoin aimed at creating a yield-bearing alternative to central bank digital currencies (CBDCs). Although WYST will not initially offer yield, discussions among Wyoming lawmakers indicate potential future implementation to support funding for the state's school system. The token's issuance is anticipated during the Wyoming Blockchain Symposium in August, built on a foundation of U.S. Treasuries, distinguishing it from CBDCs, which can be minted without backing. The state’s Select Committee on Blockchain emphasizes resistance to acting as a financial gatekeeper amidst growing regulatory pressures following the recent passage of the GENIUS Act. This act mandates stablecoins to have mechanisms to block undesirable transactions, yet proponents argue it might not fully apply to WYST due to its state-issued nature. As Wyoming seeks to assert its autonomy in the crypto sphere, state officials are also keen to ensure compliance with constitutional protections while navigating federal requirements.

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