Wyoming is on the verge of becoming the first U.S. state to issue its own stablecoin, the Wyoming Stable Token (WYST), which may serve as a counter to central bank digital currencies (CBDCs). Although initially, WYST will not offer a yield, Wyoming State Senator Chris Rothfuss indicated support for adding this feature later, aiming to use generated funds to support the state's educational system. The introduction of WYST coincides with the passage of the GENIUS Act, which requires financial institutions to create stablecoins with mechanisms to block or freeze transactions, though there is potential for exemption for state-issued tokens like WYST. Senator Rothfuss emphasized Wyoming's commitment to protecting constitutional rights over imposing strict compliance with federal regulations. The stablecoin's launch is part of a broader initiative to increase crypto adoption and independence from federal control. WYST is currently in pilot testing and is expected to debut in August, with further exploration of its capacity to facilitate real-time payments to government contractors. This development reflects Wyoming's unique position in the crypto landscape and its historical opposition to federal encroachment.

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