According to Cointelegraph, the Wyoming Stablecoins Commission, which authorizes the issuance of stablecoins in the state of Wyoming, has stated that it is considering adjusting its policy wording to better comply with potential regulatory guidelines from the U.S. Securities and Exchange Commission (SEC). On April 17th, at a meeting held at the expansion of the Wyoming State Capitol, committee member Joel Revill proposed that the agency could reduce the risk of the state's proposed issuance of WYST stablecoins being recognized as securities under SEC rules. Previously, the SEC issued guidelines stating that certain "regulated stablecoins" are considered "non securities" and are essentially not subject to reporting requirements. Subsequently, committee members and executive director Anthony Apollo engaged in discussions. Apollo stated, "We plan to create our own jargon around some of these issues to clarify and use as a starting point for committee discussions." He added that the committee has already discussed SEC guidelines internally, but plans to address this matter in a memo in May.
After Wyoming passed a law to issue a state-level stablecoin pegged to the US dollar and convertible into legal tender, the committee was established and has been exploring issues related to WYST. Wyoming Governor Mark Gordon stated in August last year that the government initially planned to launch the stablecoin in the first quarter of 2025, but later revised the timeline to possibly launch it in July.
