SF 127 - Authorizes a State Digital Currency - Wyoming Key Vote
Sandy Newsome voted Yea (Passage) on this Legislation.
Timeline
- Executive Signed
- March 17, 2023
- House Bill Passed
- March 1, 2023
- Senate Bill Passed
- Feb. 2, 2023
- Introduced
- Jan. 20, 2023
Related Issues
Stage Details
Title: Authorizes a State Digital Currency
Signed by Governor Mark Gordon
Title: Authorizes a State Digital Currency
Vote Smart's Synopsis:
Vote to pass a bill that establishes the Wyoming stable token commission, and authorizes the commission to issue Wyoming
stable tokens, which are a digital currency.
Highlights:
-
Defines “Wyoming stable token” as “the virtual currency issued by the commission pursuant to this act” (Page 3).
-
Establishes Stable Token Commission (Page 3).
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Authorizes said Commission to “Issue Wyoming stable tokens as provided in this act, and provide for matters related to the issuance of Wyoming stable tokens, including the overall number of Wyoming stable tokens to be issued, the means used to issue, maintain and manage the Wyoming stable tokens and the manner of and requirements for redemption” (Page 6).
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Establishes Stable Token Trust Account to receive all funds from issuance of Wyoming stable tokens (Page 8).
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Establishes Stable Token Administration Account; requires transfer of remaining funds to General Fund, Common School Permanent Fund Reserve Account, School Foundation Program Account, and Permanent Wyoming Mineral Trust Fund Reserve Account (Page 10).
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Authorizes redemption for one Wyoming stable token for one United States dollar (Page 11).
Title: Authorizes a State Digital Currency
Vote Smart's Synopsis:
Vote to pass a bill that establishes the Wyoming stable token commission, and authorizes the commission to issue Wyoming
stable tokens, which are a digital currency.
Highlights:
-
Defines “Wyoming stable token” as “the virtual currency issued by the commission pursuant to this act” (Page 3).
-
Establishes Stable Token Commission (Page 3).
-
Authorizes said Commission to “Issue Wyoming stable tokens as provided in this act, and provide for matters related to the issuance of Wyoming stable tokens, including the overall number of Wyoming stable tokens to be issued, the means used to issue, maintain and manage the Wyoming stable tokens and the manner of and requirements for redemption” (Page 6).
-
Establishes Stable Token Trust Account to receive all funds from issuance of Wyoming stable tokens (Page 8).
-
Establishes Stable Token Administration Account; requires transfer of remaining funds to General Fund, Common School Permanent Fund Reserve Account, School Foundation Program Account, and Permanent Wyoming Mineral Trust Fund Reserve Account (Page 10).
-
Authorizes redemption for one Wyoming stable token for one United States dollar (Page 11).
Title: Authorizes a State Digital Currency