On 17 March 2023, Wyoming enacted the Wyoming Stable Token Act, which, among other things, creates the Wyoming Stable Token Commission and authorises the Commission to issue Wyoming stable tokens as specified by the Act.
The Act defines a Wyoming stable token as "a virtual currency representative of and redeemable for one United States dollar held in trust by the state of Wyoming."
The Commission will be governed by a board consisting of the Governor, State Auditor and State Treasurer, or their respective designees, and up to four subject matter experts chosen by the three elected members.
The Commission will be holding its first meeting on 8 May 2023.