Wyoming is set to become the first U.S. state to issue its own stablecoin, the Wyoming Stable Token (WYST), expected to launch next month. While the token will not initially offer a yield, state senator Chris Rothfuss indicated plans for potential yield capabilities later. The WYST seeks to provide an alternative to the regulations imposed by recent federal legislation, specifically the GENIUS Act, which includes measures like freezing and blocking transactions. Unlike central bank digital currencies (CBDCs), WYST is state-backed and would be grounded in U.S. Treasuries. This approach aims to maintain a separation from federal oversight, emphasizing Wyoming's stance on protecting the financial sovereignty of its citizens. Rothfuss believes WYST's deployment could stimulate crypto adoption while funding education in Wyoming. The token's pilot program is currently being tested for real-time payment capabilities, and it may debut as part of the Wyoming Blockchain Symposium, with possible support from various blockchain networks.

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