Committee approves technical fixes to Wyoming Stable Token law, adds liquidity account and grant authority

Lawmakers voted to advance a package of technical amendments to the Wyoming Stable Token Act intended to clarify reserve investments, create a separate liquidity account and allow the stable token commission to accept federal grants and donations.

The sponsor described five clean‑up changes: permitting the Stable Token Commission to enter agreements with other jurisdictions; allowing certain money‑market investments (an A2a7-type account) for the reserve trust; creating a separate liquidity account for the 2% overcollateralization; defining a cascade for how interest income is used (administration, liquidity, savings, then quarterly transfers to the public school foundation program); and explicitly allowing federal grants and gifts into commission accounts. “These are bug fixes,” the sponsor said, characterizing the amendments as clarifying implementation rather than altering underlying policy.

Anthony Apollo, executive director of the Wyoming Stable Token Commission, said operating costs for the effort are about $4 million annually under the current vendor model but that the commission expects to be self‑funding within 12–18 months if the amendments allow earlier revenue capture. Committee members asked about timelines for county treasurers and state agencies to accept the token for payments; Apollo said some statutory clarifications may be needed but that technical modules are being built to let agencies accept tokens through state-hosted modules; the commission maintains a public “fact book” and a website at stabletoken.wyo.gov for further information.

After questions and limited public testimony, the committee recorded a unanimous do‑pass recommendation.