United States of America: Introduced Wyoming Stable Token Act (SF0127)

On 20 January 2023, the Wyoming Stable Token Act (SF0127) was introduced in the Wyoming Legislature. This Act would create the “Wyoming Stable Token Commission”, which is authorised to issue Wyoming stable tokens. The tokens are a virtual currency redeemable for one United States dollar. The Bill provides that all funds received from the issuance of the token will be placed in a trust account and invested exclusively in United States treasury bills. The Commission would be required to maintain, invest and reinvest funds as required by statute and rules of the Commission and to oversee the review and audit of the operations and transactions implemented under the Act.