#WYSTStablecoin The Wyoming Stable Token Commission was established in March 2023 with the passage of the Wyoming Stable Token Act, authorizing the issuance of Wyoming Stable Tokens (WYST). WYST is a proposed virtual currency designed to be redeemable for one U.S. dollar held in trust by the state of Wyoming. Stable tokens are intended to be issued solely in exchange for U.S. dollars.

The commission comprises the Governor or their designee, the Auditor or their designee, the Treasurer or their designee, and four additional subject matter experts. As of September 18, 2023, Anthony Apollo was appointed as the Executive Director of the Commission.

The initiative aims to provide a state-backed digital asset that combines the stability of fiat currency with the versatility of cryptocurrencies. However, the project has faced scrutiny and debate. For instance, Charles Hoskinson, founder of Cardano, expressed concerns over the project's development process and the exclusion of certain blockchain platforms.

As of now, the Wyoming Stable Token Commission continues to research and develop the implementation of WYST, with ongoing discussions about its feasibility and regulatory compliance.