Wyoming Gov Wants Stablecoin Commission to Follow the ‘Letter of the Law’

This meeting is the first step toward stablecoin creation in the state since the passage of the Wyoming Stable Token Act in March

article-image

railway fx/Shutterstock modified by Blockworks

share

The Wyoming Stable Token Commission held its first meeting on Monday, Wyoming Public Radio reported. The commission is the first state body in the United States with the authority to issue stablecoins.

Gov. Mark Gordon, who’s been cautious through the process, was present at the meeting. He asked state officials to confirm that what the commission is trying to do — create a digital representation of the US dollar — follows the “letter of the law.” The governor said he was concerned that under federal law, the legality of a state-issued stablecoin is murky.

“It is quite clear this is new and different,” Gordon said at the meeting. “It’s also quite clear that our federal friends may not look as favorably on it as we would like.”

David Pope, a CPA and a co-founder of the the Wyoming Blockchain Coalition, thanked the governor, the state treasurer Curtis E. Meier, and the state auditor Kristi Racines for their work on this front. 

“This is one that Wyoming has to get right,” Pope tweeted. 

Loading Tweet..

The commission was created in March by the state legislature, after Gordon OK’d the Wyoming Stable Token Act without a signature. 

With a litany of recent moves signaling support for digital asset adoption, Wyoming is seen as one of the most crypto friendly states. 

In April, Wyoming joined a lawsuit the digital asset focused Custodia Bank filed against the Federal Reserve. Custodia argued in 2020 that the Fed unfairly delayed its application for a so-called master account. With such an account, Custodia would have access to the central bank’s payments system and discount window — a tool that allows depository institutions to manage liquidity risks. The Fed later rejected Custodia’s application in January 2023. 

The commission’s meeting was said to be a packed room “full of cryptocurrency industry representatives,” though Blockworks wasn’t able to verify any individuals in attendance by publication time.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (10).png

Research

Innovations on Aptos’ technical design through Raptr, Shardines, and Zaptos approach near-optimal latency and throughput by unlocking 100% utilization of network resources, with the capacity to settle 260k transactions per second with latencies less than 800ms. The original Move language was revamped with the launch of Move 2, supporting more expressivity in smart contract logic and a scalable ability to interact with high volume datasets. The ecosystem has benefitted from strong asset inflows, now hosting over $1.3B in stablecoins, $450M in bridged BTC, and $530M in RWAs. Activity in the Aptos ecosystem has grown notably over the past year, with monthly application revenue reaching ~$835k and monthly DEX volumes growing to over $5B, both at new all time highs.

article-image

Interchain Labs will focus on sovereign L1s and institutional demand, abandoning plans for smart contracts on the Cosmos Hub

article-image

Also, only three tokens have outperformed bitcoin so far this year: XMR, HYPE and SKY

article-image

The fund group has submitted proposals in recent months for other funds that would hold litecoin, solana, XRP, HBAR, Sui and others

article-image

Momentum’s back — BTC leads, risk assets follow

article-image

Ondo Finance’s acquisition of blockchain development company Strangelove follows its buy of Oasis Pro

article-image

Cryptocurrency and stock traders alike had a lot to unpack Wednesday