From Cointelegraph

April 17, 2025 3:17 pm:

The Wyoming Stable Token Commission may clarify language to comply with potential SEC guidelines for the state’s proposed WYST stablecoin. Executive Director Anthony Apollo suggested creating new terminology for discussion among commissioners to avoid classification as a security. The commission is set to address this issue in a May memo.

Wyoming Governor Mark Gordon initially planned to launch the state-issued stablecoin in Q1 2025, later potentially aiming for July. The commission is closely monitoring federal efforts to regulate stablecoins, including proposed legislation like the GENIUS Act and the STABLE Act. Wyoming has become a hub for crypto firms due to its regulatory-friendly environment.

US Senator Cynthia Lummis, a crypto advocate, represents Wyoming in the Senate. Custodia Bank, founded by Caitlin Long, is based in Cheyenne. The commission’s focus on federal stablecoin regulation reflects the state’s commitment to being a leader in the crypto industry.

Read more at CoinTelegraph: Wyoming commission floats whether stablecoin is ‘covered’ by SEC rules