{"id":407789,"date":"2022-02-18T20:15:00","date_gmt":"2022-02-18T17:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/wyoming-lawmakers-introduce-legislation-for-state-issued-stablecoin\/"},"modified":"2022-02-18T20:15:00","modified_gmt":"2022-02-18T17:15:00","slug":"wyoming-lawmakers-introduce-legislation-for-state-issued-stablecoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/wyoming-lawmakers-introduce-legislation-for-state-issued-stablecoin\/","title":{"rendered":"# Wyoming lawmakers introduce legislation for state-issued stablecoin"},"content":{"rendered":"

“# Wyoming lawmakers introduce legislation for state-issued stablecoin <\/strong>”
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Four members of the Wyoming Legislature have sponsored a bill that would allow the state treasurer to issue a stablecoin.<\/p>\n

On Thursday, Wyoming state Senators Chris Rothfuss and Tara Nethercott with House Representatives Jared Olsen and Mike Yin introduced<\/a> Senate File SF0106, titled the \u201cWyoming Stable Token Act.\u201d If signed into law, the bill would authorize the treasurer to issue a U.S. dollar-pegged stablecoin redeemable for fiat held in an account by the state. <\/p>\n

The state treasurer \u2014 Curtis Meier at the time of publication \u2014 would consult with the department\u2019s Investment Funds Committee and have the authority to hire \u201caccountants, auditors, consultants and other experts\u201d to issue the coins, as well as stipulate limitations and rules. State officials would have until Dec. 31 to issue the stablecoin, with the option of submitting a report by Nov. 1 if such an offering were determined to be \u201cincompatible federal or state law.\u201d<\/p>\n

Caitlin Long, CEO of Avanti Financial \u2014 which is headquartered in Wyoming \u2014 weighed in on the legislation, saying there were pros and cons to the bill, but it was \u201cdefinitely a conversation-starter\u201d for lawmakers exploring stablecoins. Long has previously described stablecoins as \u201cvery important bridges between crypto and the U.S. dollar\u201d in need of regulatory clarity.<\/p>\n

\u201cIt’s a mind-bender,\u201d said<\/a> Long in reference to the proposed stablecoin. \u201cAkin to a muni bond that neither pays interest nor has a maturity date but is redeemable \u2014 except it isn’t exactly that bc, as a token, there would be big legal & structural\/settlement differences.\u201d<\/p>\n

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NEWS<\/a>–bipartisan group of top #Wyoming<\/a> legislators proposed a bill for State of Wyoming to issue a #stablecoin<\/a>, 100% backed by USTreasuries, where the State keeps the float. I see pros & cons (didn’t know it was coming) but\u2764\ufe0fthat Wyoming continues to explore cool #crypto<\/a> ideas! https:\/\/t.co\/BXbELukUQE<\/a><\/p>\n

\u2014 Caitlin Long \u26a1\ufe0f (@CaitlinLong_) February 17, 2022<\/a><\/p><\/blockquote>\n