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Commissioners and select committee weigh expanding authority for asset-backed tokens and broader tokenization
Summary
Members of the Select Committee on Blockchain and commissioners recommended expanding the Wyoming Stable Token Commission’s scope or creating a digital-asset authority to enable state-issued asset-backed tokens and to prepare statutory and operational groundwork.
Laramie, Wyo. — During discussion on Sept. 22, members of the Select Committee on Blockchain and commissioners said Wyoming should begin laying statutory and operational groundwork to permit state-issued asset-backed tokens and other tokenization efforts beyond the Frontier Stable Token.
Commissioner David Pope, a committee liaison and CPA, recommended expanding the Stable Token Commission’s scope or creating a broader digital-asset authority to regulate additional token classes and to permit yield-bearing or asset-backed tokens in the future. Pope argued that token use by the state — for vendor payments, payroll and fee receipts — increases value when tokens remain in circulation and that the state should consider authorizing additional token types so it can monetize certain assets without ceding ownership.
Pope proposed that the committee consider amending statute so the commission (or successor body) could oversee the issuance of other tokens and suggested a phased accounting approach for the commission’s collateral waterfall to allow earlier repayment of state appropriations while maintaining over-collateralization safeguards. Commissioner Pope and other committee members discussed both the fiscal accounting challenges and political importance of preserving a buffer (the commission’s 102% backing requirement) as a selling point for the program.
Committee members and commission staff discussed practical next steps: drafting conforming statutory authority to expand the commission’s remit, completing pilot integrations that demonstrate use cases (payroll, payroll remittance, unclaimed property), and continuing work on custody and redundant vendor procurement. Cochair and other members indicated the topic should be a high priority for the interim and that the committee should consider action or groundwork well before broad federal final rules are issued.
No formal vote was taken on structural changes; members asked staff to place expansion of the commission or a digital-asset authority on the committee’s interim priority list.
