The bill establishes a prohibition on state agencies in Wyoming from accepting or requiring payment in the form of a central bank digital currency (CBDC) for government services, taxes, or fees. It also prohibits state agencies from using public funds to assist in the testing, adoption, or implementation of a CBDC. The bill defines a CBDC as a digital medium of exchange issued by the United States federal reserve system or any similar federal agency. Additionally, the legislature expresses concerns regarding the potential risks associated with a CBDC, including increased government surveillance of financial activities, limitations on purchases, and reduced credit availability.

Furthermore, the bill urges Congress to prohibit the establishment of a CBDC, citing that it would not offer unique benefits to Wyoming citizens or businesses compared to existing technologies. The Secretary of State is tasked with transmitting copies of the bill to key federal officials and members of the Wyoming Congressional Delegation. The act is set to take effect immediately upon completion of the necessary legislative processes.