CHEYENNE—Wyoming may still become the first state to have an official stablecoin.
Gov. Mark Gordon has allowed the Wyoming Stable Token Act to become law without his signature, the Sheridan Press reported.
Gordan said that after vetoing a similar bill following last year’s legislative session, the sponsors worked to resolve many of his concerns.
“Nevertheless, I continue to harbor some reservations about the potential impact this program may have on Wyoming’s hard-fought reputation as a thoughtful and strong leader in the world of digital assets,” Gordon said in a letter to Secretary of State Chuck Gray.
‘Nurture Reputation’
Gordon said he recognized that the success of a Wyoming stable token could be a great achievement that could “nurture Wyoming’s reputation as a leader in the digital asset world.”
The new legislation will develop a board composed of the governor or the governor’s designee, the state auditor or the auditor’s designee, the treasurer or the treasurer’s designee and not more than four subject matter experts in virtual currency and financial technology appointed by a majority vote of the members of the board, Sheridan Press said.
Gordon noted that it remains unclear whether a “robust” market exists for Wyoming stablecoin, particularly considering recent developments, Sheridan Press noted.
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