The Wyoming Stable Token Commission is contemplating adjustments to its language to align with the SEC's guidelines regarding stablecoins. At a recent meeting, Commissioner Joel Revill expressed that changes could help mitigate the risk of the state's proposed WYST stablecoin being classified as a security. The SEC categorized certain 'covered stablecoins' as non-securities, thereby exempting them from specific reporting requirements. The commission aims to foster discussions around this matter, with plans to address the SEC guidance further in a May memo. Wyoming, having initiated steps to issue a dollar-pegged stablecoin, aims for a launch that was previously slated for early 2025, now potentially set for July. Additionally, the commission will be observing federal legislative efforts regarding stablecoins, including the GENIUS and STABLE Acts, while Wyoming continues to attract crypto firms due to its friendly regulatory environment.

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