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Representatives of the US state of Wyoming proposed for consideration a bill describing the procedure for issuing their digital currency. Based on the information provided in the document, lawmakers are proposing to issue a stablecoin that will be pegged to the US dollar.
According to local media, if this proposal is approved by the state authorities, the bill will be adopted immediately. The stablecoin itself, if everything goes according to plan, will become available to Wyoming residents at the end of the year.
It is worth noting that the sponsors of this bill are state senators Chris Rothfuss and Tamara Nethercott, as well as his representatives - Mike Ying and Jered Olsen. If the legislation passes, the Wyoming Treasury, led by Curtis Meyer Jr., would be required to issue a government stablecoin in the fourth quarter of 2022.
It should be emphasized that in case of refusal by the Treasury to release digital within the specified period, the department undertakes to submit a report to the special committee on capital financing and investments by November 1, where it must state in detail the reasons why it cannot implement the draft law.
In this context, it is worth noting that the above news caused an active discussion on social networks, both among representatives of the crypto community and among supporters of the traditional financial sector.
So, for example, the general director of the regional representative office of Avanti Bank & Trust, Caitlin Long, was apprehensive about the possible release of a virtual asset.
“I don't understand the purpose of creating Wyoming's coin. That is the start of something new. For me, there are still many questions that I would like to hear the answers to," Long concluded.