WV HB5461

Creates the "Financial Accountability Stable Token Act" (FAST Act) authorizing West Virginia to pay state vendors and contractors using qualifying stablecoins backed 1:1 by U.S. dollars or short-term Treasury obligations

Requires qualifying stable tokens to be issued by U.S.-incorporated companies with U.S. citizen founders, maintain reserves at U.S.-chartered banks, and undergo quarterly independent audits by PCAOB-registered accounting firms

Establishes vendor participation as strictly voluntary—no contractor may be required to accept stablecoin payments, but such payments constitute valid satisfaction of state obligations

Grants the State Treasurer authority to maintain a list of approved stable tokens, promulgate implementing rules, and suspend or revoke authorization for non-compliant tokens

Mandates annual public reports to the Legislature on authorized tokens, transaction volumes, cost savings, and risk assessments