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

On 17 March 2023, the Wyoming Stable Token Act (SF0127) was enacted after being signed into law by the Governor. The Act creates the “Wyoming Stable Token Commission”, which will be authorised to issue Wyoming stable tokens. The tokens are a virtual currency that is redeemable for one United States dollar. The Act 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 will 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.