Wyoming Sets the Pace for State-Issued Crypto
Wyoming, known for its pro-crypto regulatory stance, is preparing to become the first U.S. state to issue a stablecoin—the Wyoming Stable Token (WYST)—with a launch slated for July.
Speaking at The Digital Chamber DC Blockchain Summit, Governor Mark Gordon said:
“It’s a government that is fully accessible; we can turn on a dime.”
This initiative is part of the Wyoming Stable Token Act, passed in March 2023, which created the Wyoming Stable Token Commission to oversee the issuance and framework of WYST.
What is WYST and How Will It Work?
The Wyoming Stable Token will:
- Be redeemable 1:1 for USD, with funds held in trust.
- Be backed by cash and U.S. Treasury bills, ensuring a conservative and fully transparent reserve structure.
- Function similarly to stablecoins, but with state-level issuance and oversight.
According to the commission, testing of WYST will begin soon, with deployment scheduled for July 2025.
Wyoming’s Regulatory Edge in Crypto
Wyoming has consistently led on crypto policy, including:
- Legal recognition of DAOs (decentralized autonomous organizations).
- Authorizing insurance companies to invest in Bitcoin and digital assets.
Governor Gordon reaffirmed the state’s ethos:
“We believe innovation trumps regulation... but we ensure a consistent and transparent structure.”
Wyoming’s agile governance and open-door policy toward blockchain innovation positions it as a national leader in crypto experimentation.
