PANews reported on April 18 that according to Cointelegraph, the Wyoming Stablecoin Committee, an agency authorized by Wyoming to issue stablecoins, said it was considering adjusting its policy wording to better comply with regulatory guidelines that may be issued by the U.S. Securities and Exchange Commission (SEC). At a meeting held at the Wyoming State Capitol Extension on April 17, Commissioner Joel Revill proposed that the agency could reduce the risk that the state's proposed WYST stablecoin would be identified as a security under SEC rules. Previously, the SEC issued guidance stating that certain "regulated stablecoins" were considered "non-securities" and were essentially not subject to reporting requirements, and the commissioners and Executive Director Anthony Apollo subsequently discussed it. "We intend to create our own jargon around some of these issues to clarify, and then use this as a starting point for the committee's discussion," said Apollo, adding that the committee had discussed the SEC's guidelines internally but planned to deal with the matter in a memorandum in May.

The committee was established after Wyoming passed a law to issue a state-level stablecoin pegged to the U.S. dollar and convertible into fiat currency, and has been exploring issues related to WYST. Wyoming Governor Mark Gordon said in August last year that the government initially planned to launch the stablecoin in the first quarter of 2025, and later revised the timetable to a possible launch in July.