WV SB560

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 with U.S.-chartered banks, and undergo quarterly independent audits by PCAOB-registered firms

Prohibits stable tokens backed by commodities, foreign currencies, synthetic assets, or other digital assets, and disqualifies tokens issued or controlled by foreign entities

Makes vendor and contractor participation entirely voluntary—no one may be required to accept payment in stable tokens

Directs the State Treasurer to maintain a public list of authorized tokens, conduct annual reviews, promulgate implementing rules, and submit annual reports to the Legislature on transaction volumes and cost savings