The state of Wyoming in the United States is starting work on its stablecoin, officially called the “stable token” project, with a job opening for the head of the stable token commission. The Executive will lead the team responsible for creating the appropriate legislative framework for the project.

The position was he opened on the federal government’s civilian employment website on July 20. The commission is seeking to hire an executive director to lead a team comprised of Wyoming’s governor, state auditor, state treasurer and four “expert appointees.” The state is looking for someone with connections and expertise in the blockchain industry, promising an annual salary of $150,000.

The Wyoming Stable Token Act was introduced in February 2022, the law becomes law in March 2023. The law authorizes the issuance of US dollar stablecoins exchangeable for fiat held in an account by the government.

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According to the text of the law, the Stable Token Commission is, among other things, responsible for deciding on the total number of issued tokens, concluding redemption requests and selecting financial institutions for token management.

In April 2023, a similar initiative was designed in the state of Texas, where lawmakers introduced bills to create the nation’s gold-backed digital currency. At the same time, several US lawmakers argued against the federal government’s interest in introducing a central bank digital currency.

Wyoming is a cryptocurrency friendly jurisdiction. Recently, state governor Mark Gordon signed the bill into law preventing forced disclosure of private keys to protect the privacy of owners of digital assets. And in April, U.S. Attorney Bridget Hill asked to intervene in a case between Custodia Bank and the Federal Reserve Bank, seeking to defend its framework allowing certain crypto firms qualify as state chartered banks.

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