Regulation · Regime · Wyoming · Primary legislation · Wyoming Stable Token Commission
Wyoming Stable Token Act (W.S. 40-31-101 to 40-31-109)New
Wyoming's 2023 law creating the Wyoming Stable Token Commission, a state instrumentality governed by the Governor, Auditor, Treasurer and up to four outside experts, and authorising it to issue a state stable token redeemable for one US dollar held in trust. Tokens may only be issued for dollars; the proceeds sit in a trust account used only for redemptions and invested in Treasury bills, with investment earnings beyond operating costs going to the state's school fund. A 2026 amendment added a liquidity reserve and allowed money market funds. The Commission issues the Frontier Stable Token (FRNT) under it.
In force · effective 17 Mar 2023
Key points
- A Wyoming stable token represents, and is redeemable for, one US dollar held in trust by the state, and may only be issued in exchange for dollars.[1]
- Issuance proceeds go into a trust account that may be spent only on redemptions and is invested in US Treasury bills; the state takes on no fiduciary duty to holders.[1]
- The Commission sets the number of tokens, how they are issued and managed and the redemption terms, and selects the financial institutions that manage them.[1]
- The 2026 amendment creates a liquidity account holding 2% of the face value of tokens outstanding, lets the trust account invest in money market funds, and lets the Commission make agreements with other states.[2]
What it covers
Timeline
- 17 Mar 2023 · In forceGovernor signs SF0127 (Enrolled Act 85, chapter 185); effective on signature.[3]
- 6 Mar 2026 · AmendedGovernor signs SF0021 (chapter 55), adding the liquidity account and allowing money market fund investment.[4]
Deployments operating under it
| Deployment | Status | Assets | Use cases | Last reviewed |
|---|---|---|---|---|
| Frontier Stable Token (FRNT)New Fireblocks | Live (limited) | Reviewed 24d ago |
Sources
- [1]Enrolled Act No. 85, Senate (SF0127): Wyoming Stable Token Act — Wyoming Legislature, 2023. Accessed 18 Oct 2026.A
- [2]SF0021 Wyoming stable token-amendments: bill summary — Wyoming Legislature (Legislative Service Office), 2026. Accessed 18 Oct 2026. LSO summary; not an official statement of legislative intent..A
- [3]SF0127 bill digest — Wyoming Legislature. Accessed 18 Oct 2026.A
- [4]SF0021 bill digest — Wyoming Legislature. Accessed 18 Oct 2026.A