Wyoming is edging closer to becoming the first U.S. state to issue its own stablecoin, the Wyoming Stable Token (WYST), with a planned debut at the Wyoming Blockchain Symposium in August. Although WYST will not initially offer a yield, state officials indicate future possibilities for enabling this feature. Wyoming’s Select Committee on Blockchain encourages the token’s creators to resist external pressures akin to political gatekeeping. The recent passage of the GENIUS Act, which mandates certain operational protocols for stablecoins, raises concerns about potential central bank digital currency implications among some lawmakers. Unlike CBDCs, WYST is positioned as a state-backed stablecoin supported by U.S. Treasuries, potentially allowing for more operational autonomy from federal guidelines. The development aims to generate funds for Wyoming's education system as part of its broader regulatory framework in the cryptocurrency sector, while ensuring state sovereignty and compliance with constitutional protections.

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