2025 Election Guide
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On June 17, 2025, the United States Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act. The landmark “GENIUS” Act is the first critical piece of digital asset legislation to pass through the Senate following President Trump’s executive order in January, “Strengthening American Leadership in Digital Financial Technology.”
“This monumental step towards creating a clear regulatory framework for stablecoins – intrinsic to keeping digital asset innovation in the United States – could not have happened without the years-long efforts of Wyoming’s own Senator Cynthia Lummis and her team,” Governor Gordon said. “Our office recognizes her leadership and congratulates her on this hard-fought success requiring persistent iteration, bipartisan support, and education about this emerging technology.”
Wyoming’s efforts to bring forth a legislative framework around cryptocurrency, blockchain, and digital assets started almost ten years ago, and the state continues to be a leader in this regard.
“Since 2017 Wyoming has been at the forefront of digital asset policy long before it was popular or politically expedient. In Wyoming we recognized what the rest of the country is beginning to understand, that digital assets are a force for good - that you can have both responsible innovation and consumer protection side by side,” said Senator Lummis in remarks delivered to the U.S. Senator moments prior to passage of the legislation.
While the stage is set nationally to proceed with digital assets through the GENIUS Act, the State of Wyoming is preparing to launch the first fiat-backed, fully-reserved stablecoin issued by a U.S. public entity in the coming months - the Wyoming Stable Token (WYST). The Wyoming legislature has passed 50 pieces of legislation pertaining to digital assets. Proceeds from WYST will bolster the state’s education fund.
“Through my Chairmanship of the Wyoming Stable Token Commission, it has been eye-opening to see the rapid pace at which digital assets – and their regulatory support – have progressed. We look forward to the launch of the Wyoming Stable Token,” Governor Gordon said.
“For nearly a decade, Wyoming has been at the forefront of digital asset policy, and I am excited to see the federal government follow in our state’s footsteps,” said Lummis. “The GENIUS Act brings us one step closer to becoming a home for digital asset companies and securing our financial future for generations to come. I want to thank Governor Gordon for his leadership in ensuring Wyoming leads the way on American digital asset advancement and I look forward to using this legislation as a springboard for passing comprehensive market structure.”