Wyoming is poised to become the first U.S. state to issue its own stablecoin, the Wyoming Stable Token (WYST), which is expected to launch next month. While WYST will initially not offer yield, there is potential for this feature to be enabled in the future, supporting Wyoming's educational funding. As the state introduces WYST, it faces a regulatory landscape influenced by the recently passed GENIUS Act, which could raise concerns about central bank digital currencies (CBDCs). State officials assert WYST’s design is significantly different from CBDCs, emphasizing it is backed by U.S. Treasuries. Concerns persist regarding the bill's implications for financial oversight and consumer sovereignty, particularly from critics who fear it paves the way for a cashless society. Nevertheless, Wyoming's lawmakers aim to ensure the stablecoin operates outside certain federal pressures, protecting its autonomy in managing financial transactions. The token will be tested for real-time payments to governmental contractors before its official release. Emphasizing state sovereignty, officials express confidence in navigating potential federal enforcement actions.

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