Wyoming is poised to launch its own stablecoin, the Wyoming Stable Token (WYST), which aims to offer a publicly funded alternative to central bank digital currencies (CBDCs). Initially, WYST will not provide a yield, although state lawmakers, particularly Senator Chris Rothfuss, have indicated future plans to enable this feature. The token's introduction occurs amidst federal regulations, such as the GENIUS Act, which some view as a threat to financial sovereignty. Supporters argue that WYST, underpinned by U.S. Treasuries, is distinct from CBDCs, which can be minted without collateral. The Wyoming Select Committee on Blockchain emphasizes the need to uphold constitutional rights regarding the usage and management of the token, resisting undue governmental interference. The token is set to debut at the Wyoming Blockchain Symposium and is currently undergoing pilot testing to ensure its functionality for real-time payments. This initiative reflects Wyoming's ongoing commitment to fostering a pro-crypto environment, despite concerns over the implications of digital currencies at a federal level.

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