The bill amends the Wyoming Stable Token Act to enhance the regulatory framework surrounding stable tokens. It allows the Wyoming stable token commission to issue various types and amounts of stable tokens and to engage with financial service providers. Additionally, the bill specifies that the commission can invest funds from the Wyoming stable token trust account in cash and government securities with a maturity of one year or less, ensuring that these funds are exclusively used for the redemption of stable tokens. The bill also introduces new requirements for criminal history record information dissemination and mandates fingerprinting for individuals applying to be subject matter experts or directors of the commission.

Key amendments include the addition of provisions that require the commission to report only on fully reserved stable tokens and the removal of language regarding the overall number of tokens issued. The bill also clarifies that the commission can enter into contracts with financial service providers and outlines the reporting requirements to legislative committees before the public issuance of stable tokens. The act is set to take effect immediately upon completion of the necessary legislative processes.

Statutes affected:
24LSO-0372 v0.4: 7-19-106, 7-19-201, 40-31-105, 40-31-106