Section 40-31-105 - Powers of the commission(a) This act shall be administered by the commission in accordance with this act.(b) The commission shall adopt rules and regulations as necessary to administer this act and to ensure compliance with all applicable state and federal law.(c) The commission may: (i) Issue Wyoming stable tokens as provided in this act, and provide for matters related to the issuance of Wyoming stable tokens, including the types of Wyoming stable tokens to be issued, the supply characteristics for each type, the means used to issue, maintain and manage the Wyoming stable tokens and the manner of and requirements for redemption;(ii) Retain professional services, if necessary, including accountants, auditors, consultants and other experts;(iii) Make and enter into any contracts, agreements or arrangements and retain, employ and contract for the services of financial institutions, financial service providers and research, technical and other services as necessary to implement this act;(iv) Select the financial institutions to manage the Wyoming stable tokens;(v) Seek rulings and other guidance from the United States department of the treasury, the United States internal revenue service, the United States securities and exchange commission and any other relevant federal agency relating to this act;(vi) Utilize the services of the state treasurer's office in investing and managing the Wyoming stable token trust account;(vii) Employ a director and employees as it deems necessary for the performance of its duties. The commission shall prescribe the powers and duties and fix the compensation of the director and employees. The director shall be required to furnish fingerprints for submission to the federal bureau of investigation or any governmental agency or entity authorized to receive fingerprints for a state, national and international criminal history background check.(d) The commission shall: (i) Notwithstanding W.S. 9-4-716, maintain, invest and reinvest the funds received for issuing Wyoming stable tokens and any earnings from those investments in accordance with investment policies established by rule and regulation of the commission in consultation with the treasurer and according to this act;(ii) Oversee the review and audit of the operations and transactions implemented pursuant to this act to include the commissioning of independent audits as necessary. Costs incurred to perform independent audits and reviews of the implementation of this act shall be deemed operational costs.(e) Before publicly issuing any fully reserved Wyoming stable tokens, the director shall provide a comprehensive report to the select committee on blockchain, financial technology and digital innovation technology and the joint minerals, business and economic development interim committee on all actions taken under this act.Amended by Laws 2024, ch. 92,§ 2, eff. 3/18/2024.Added by Laws 2023, ch. 185,§ 1, eff. 3/17/2023.