SF0052

Bill Summary - 24LSO-0372 Bill No.: SF0052 Effective: Immediately LSO No.: 24LSO-0372 Enrolled Act No.: SEA No. 0044 Chapter No.: 92 Prime Sponsor: Select Committee on Blockchain, Financial Technology and Digital Innovation Technology Catch Title: Wyoming Stable Token Act-amendments. Has Report: Yes Subject: Amendments to the Wyoming Stable Token Act. Summary/Major Elements: This bill amends the Wyoming Stable Token Act to require the Wyoming Stable Token Commission to enter into procurement contracts using competitive bidding. This bill amends the fingerprinting requirements for background checks for specified members of the Wyoming Stable Token Commission to be consistent with other statutes. This bill amends the types of investments eligible for the Wyoming Stable Token Trust Account to include cash and United States treasury repurchase agreements with a term of thirty (30) days or less and clarifies the types of stable tokens that may be issued. Comments: This bill amends an existing reporting requirement to now require a report to the Select Committee on Blockchain, Financial Technology and Digital Innovation Technology and the Joint Minerals, Business and Economic Development Interim Committee prior to the public issuance of any fully reserved stable token. The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.