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The United States state of Wyoming is beginning its work on its stablecoin, officially called the “stable token” project, by opening a job position for the head of the stable token commission. The executive will lead a team responsible for making a proper legislative framework for the project. The position was
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The U.S. state of Wyoming has requested to intervene in the case between Custodia Bank and the Federal Reserve System, seeking to defend its framework allowing certain crypto firms to qualify as state-chartered banks.In an April 10 court filing, Wyoming Attorney General Bridget Hill filed a motion to “intervene in
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“Although an adverse determination against Custodia on the merits of Custodia’s application and unique situation may not prejudice the State, the Defendants’ apparent determination that Wyoming’s SPDI statutes and regulations, and SPDI banks themselves, are deficient will,” Hill’s report argued. Source
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"No person shall be compelled to produce a private key or make a private key known to any other person in any civil, criminal, administrative, legislative or other proceeding in this state that relates to a digital asset, digital identity or other interest or right to which the private key
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Wyoming lawmakers have passed a bill that will prohibit courts in the state from forcing someone to disclose their digital asset private keys, with one minor exception.The bill was passed by a vote of 41-13 in the Wyoming House of Representatives on Feb. 15, a day after passing 31-0 in
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A South Dakota-based public utility company, Black Hills Corp., has inked a deal through its Wyoming subsidiary, Black Hills Energy, to provide power to a bitcoin mining operation in Cheyenne, Wyo. for at least five years. Source
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“Figuring out digital asset custody in Wyoming, we reached out to and spoke with the U.K.’s FCA [Financial Conduct Authority], and countries such as Finland, Switzerland, Abu Dhabi and Bermuda,” Forkner said in an interview. “The U.S. is much more complex because you’ve got a dual banking system and multiple
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The State of Wyoming has approved California-based crypto broker SFOX for a trust charter, allowing the firm to provide custodial and other crypto-related services to institutional clients.In a Tuesday announcement, SFOX said the Wyoming trust charter will allow the firm to operate in the state as the SAFE Trust Company,
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Four members of the Wyoming Legislature have sponsored a bill that would allow the state treasurer to issue a stablecoin.On Thursday, Wyoming state Senators Chris Rothfuss and Tara Nethercott with House Representatives Jared Olsen and Mike Yin introduced Senate File SF0106, titled the “Wyoming Stable Token Act.” If signed into
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"If the access is granted, these institutions may introduce increased risks to the financial system," according to the minutes of the meeting. SPDIs, the document noted, "hold uninsured dollar deposits. The deposits will be backed by 100% reserves, and the funds on deposit cannot be loaned by the bank. This
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