Wyoming Initiates Stable Token Project with Job Opening for Executive Director
- Shams Ul Zoha
- July 25, 2023
- 4:00 pm
WHAT YOU SHOULD KNOW
- Wyoming has opened a job position for the executive director of the stable token commission, responsible for creating a legislative framework for the state’s stablecoin project.
- The stablecoin initiative, known as the Wyoming Stable Token Act, was introduced in February 2022 and became law in March 2023.
- The stablecoin will be pegged to the U.S. dollar and redeemable for fiat currency held in an account by the state.
The state of Wyoming is embarking on the development of its stablecoin project, referred to as the “stable token,” by advertising a job opening for the head of the stable token commission. This executive will play a crucial role in leading a team responsible for creating a comprehensive legislative framework for the stablecoin initiative. The commission aims to hire an executive director with strong connections and expertise in the blockchain industry, offering an annual salary of $150,000.
The job position was made available on the federal government’s website for civil jobs on July 20. The selected executive director will lead a team comprising the Wyoming governor, state auditor, state treasurer, and four expert appointees. Together, they will work towards establishing a stablecoin that will be pegged to the U.S. dollar and redeemable for fiat currency held in an account maintained by the state.
The Wyoming Stable Token Act was officially introduced in February 2022 and later became law in March 2023. This legislative act grants authorization for the issuance of the state’s stablecoin, further advancing Wyoming’s efforts to explore the potential of blockchain technology and cryptocurrencies in the region.
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