Wyoming is poised to become the first U.S. state to issue its own stablecoin, the Wyoming Stable Token (WYST), designed to provide an alternative to central bank digital currencies (CBDCs). The launch is expected in August. Initially, WYST will not offer a yield, although support for future yield generation is being considered. The introduction follows the passage of the GENIUS Act, which regulates stablecoins but includes provisions that may not apply to state-issued tokens like WYST. Backed by U.S. Treasuries and aiming to fund the state's education system, proponents assert that WYST remains distinguishable from CBDCs due to its state governance and operational framework. Lawmakers in Wyoming emphasize the need for the Commission overseeing WYST to resist becoming a political or financial gatekeeper. While the token's debut is planned, technical aspects regarding compliance and functionality are still being finalized, aiming to facilitate real-time payments and engage with potential blockchain analytics to prevent illicit use. This initiative represents Wyoming's broader strategy to foster crypto innovation and combat federal overreach.

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