Wyoming Becomes First US State To Launch Its Own Stablecoin: Introducing ‘FRNT’
Shortly after President Donald Trump signed the GENIUS Act into law, providing a new regulatory framework for dollar-pegged cryptocurrencies, Wyoming officially introduced the Frontier Stable Token (FRNT), becoming the first US state to issue its own blockchain-based stablecoin. The Wyoming Stable Token Commission announced the initiative on Tuesday, aiming to provide users of the new […]
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Stablecoins are another piece in the puzzle, like DAOs or digital identity. “And if we don’t have it just right at first, we’ll fix it.” For a state with a small-town feel, Wyoming moves with big-city alacrity when it comes to things crypto. According to the bipartisan bill introduced into its legislature last week, a Wyoming stablecoin could debut before the end of 2022. The announcement caught even Wyoming banker and cryptocurrency champion Caitlin Long by surprise. “Didn't know it was coming,” tweeted the Avanti Bank CEO.It also raises some questions: Is a stablecoin really needed by....
Avanti Financial CEO Caitlin Long said the bill had its own pros and cons, but it was “definitely a conversation-starter” for lawmakers exploring stablecoins. Four members of the Wyoming Legislature have sponsored a bill that would allow the state treasurer to issue a stablecoin.On Thursday, Wyoming state Senators Chris Rothfuss and Tara Nethercott with House Representatives Jared Olsen and Mike Yin introduced Senate File SF0106, titled the “Wyoming Stable Token Act.” If signed into law, the bill would authorize the treasurer to issue a U.S. dollar-pegged stablecoin redeemable for fiat....
Charles Hoskinson, the founder of Cardano, has publicly criticized the Wyoming Stable Token Commission’s recent blockchain network selections for the state’s upcoming stablecoin, the Wyoming Stable Token (WST). In a livestream titled “XRP and Wyoming” broadcasted on November 25, 2024, Hoskinson questioned the commission’s opaque selection process and raised concerns about potential conflicts of interest. […]
Wyoming became the first US state to launch its own stablecoin with Frontier ($FRNT). The move can have a dramatic impact on how government entities disburse payments and increase the adoption of digital currencies in general. With greater crypto adoption could also come increased interest in other digital assets. These include Bitcoin Hyper ($HYPER) and […]
The Wyoming Banking Regulations have been pressing the Coinbase Exchange. Coinbase, a Bitcoin Wallet and Exchange Service Provider has announced the suspension of all operations in Wyoming as a result of state financial regulators' interpretation of the Wyoming Money Transmitter Act. The exchange already counts with operations serving more than 2.5 million users in 190 countries will now be forced to stop its operations in this State. Andrea Castillo, Mercatus Center Technology Policy Program Manager says Wyoming's banking policies are holding back innovative digital businesses like....