Wyoming Seeks Executive Director for Stablecoin Project
The state of Wyoming is looking for an executive director for its new stablecoin project. The position comes with a salary of $150,000 per year, $10,000 more than the governor’s salary. The executive director will be responsible for overseeing the Wyoming Stable Token Commission, which was established after the passing of the Wyoming Stable Token Act earlier this year.
Key Points:
- The Wyoming Stable Token Commission was created following the passing of the Wyoming Stable Token Act, proposed by state Senators Chris Rothfuss and Tara Nethercott, and House representatives Jared Olsen and Mike Yin.
- The Act gives the Commission the authority to issue a US dollar-pegged stablecoin that can be redeemed for dollars held in the state’s bank account.
- The Commission is looking for a candidate with connections and expertise in the blockchain industry, as well as familiarity with Wyoming’s legislative processes and key stakeholders.
- Flavia Naves, a former general counsel at Circle, is one of the crypto and payments experts on the Commission.
- The Commission aims to issue a stablecoin by the end of 2023, potentially making Wyoming the first US state to do so.
Wyoming: A Pro-Crypto State
Wyoming is widely recognized as one of the most crypto-friendly states in the US. It is home to Republican Senator Cynthia Lummis, a prominent advocate for cryptocurrencies. Senator Lummis has expressed her belief in the future of digital assets and has actively participated in crypto-related events.
Hot Take
Wyoming’s initiative to hire an executive director for its stablecoin project showcases the state’s commitment to fostering innovation in the crypto industry. By actively seeking expertise in the blockchain space, Wyoming aims to position itself as a leader in the adoption and regulation of cryptocurrencies. If successful, the state’s stablecoin issuance could set a precedent for other jurisdictions to follow suit.