{"id":127412,"date":"2025-04-17T20:17:21","date_gmt":"2025-04-17T20:17:21","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127412"},"modified":"2025-04-17T20:17:21","modified_gmt":"2025-04-17T20:17:21","slug":"wyoming-commission-floats-whether-stablecoin-is-covered-by-sec-rules","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127412","title":{"rendered":"Wyoming commission floats whether stablecoin is &#039;covered&#039; by SEC rules"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe Wyoming Stable Token Commission, a body authorized by the US state to issue a stablecoin, has suggested that it may clarify its language to better comply with potential guidelines from the Securities and Exchange Commission (SEC).<br \/>\nIn an April 17 meeting in the extension of the Wyoming Capitol building, Commissioner Joel Revill suggested the body could reduce the risk of the state\u2019s proposed WYST stablecoin qualifying as a security under SEC rules. The discussion among the commissioners and Executive Director Anthony Apollo followed the SEC issuing guidelines that certain \u201ccovered stablecoins\u201d were considered\u201d non-securities\u201d and largely not subject to reporting requirements.\u00a0<br \/>\nWyoming Stable Token Commission Executive Director Anthony Apollo with Senator Cynthia Lummis. Source: LinkedIn\u201cWe\u2019re looking to kind of create our own vernacular around some of this, to clarify, and then use that as a jumping off point of discussion for the commission,\u201d said Apollo, adding there were internal discussions regarding the SEC guidance but the commission was scheduled to address the matter in a May memo.\u00a0<br \/>\nRelated: Wyoming treasury should run on blockchain \u2014 Stable Token Commission boss<br \/>\nThe commission, established after Wyoming passed a law to issue a state-issued stablecoin pegged to the US dollar and redeemable for fiat currency, has been exploring issues surrounding WYST. Wyoming Governor Mark Gordon said in August that the government initially planned a launch in the first quarter of 2025 for the stablecoin, later amending the timeline to potentially launch in July.<br \/>\nLooking to the US Congress for guidance<br \/>\nThe commission said it would be monitoring efforts by the federal government to establish a regulatory framework for stablecoins. Among the proposed legislation was the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, in the Senate, and the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, in the House of Representatives.<br \/>\nThough Wyoming is the least populated US state, with roughly 600,000 people, it has become home to some crypto firms likely seeking a regulatory-friendly jurisdiction. Custodia Bank, the digital asset bank established by Caitlin Long, is based in Cheyenne. US Senator Cynthia Lummis, who often advocates for crypto-friendly policies, represents Wyoming in the Senate.<br \/>\nMagazine: Riskiest, most \u2018addictive\u2019 crypto game of 2025, PIXEL goes multi-game: Web3 Gamer<a href=\"https:\/\/cointelegraph.com\/news\/wyoming-commission-covered-stablecoin-sec?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe Wyoming Stable Token Commission, a body authorized by the US state to issue a stablecoin, has suggested that it may clarify its language to better comply with&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127412"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127412"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127412\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127412"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}