According to PANews, the Wyoming Stablecoin Commission is contemplating changes to its policy language to align with potential regulatory guidelines from the U.S. Securities and Exchange Commission (SEC). During a meeting held on April 17 at the Wyoming State Capitol extension, committee member Joel Revill suggested that the commission could mitigate the risk of the proposed WYST stablecoin being classified as a security under SEC rules. Previously, the SEC issued guidance indicating that certain 'regulated stablecoins' are considered 'non-securities' and are largely exempt from reporting requirements. Following this, discussions ensued among committee members and Executive Director Anthony Apollo.
Apollo stated, "We intend to create our own terminology around some of these issues for clarification, which will serve as a starting point for committee discussions." He added that while internal discussions regarding the SEC's guidelines have taken place, the matter will be addressed in a memorandum scheduled for May.
The Wyoming Stablecoin Commission was established following the state's enactment of a law to issue a state-level stablecoin pegged to the U.S. dollar and redeemable for fiat currency. The commission has been exploring issues related to the WYST stablecoin. Wyoming Governor Mark Gordon initially announced plans to launch the stablecoin in the first quarter of 2025, but the timeline was later adjusted to a potential release in July.
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