{"id":13181,"date":"2023-04-11T09:04:16","date_gmt":"2023-04-11T09:04:16","guid":{"rendered":"https:\/\/www.webtechmantra.com\/?p=13181"},"modified":"2023-04-11T09:04:17","modified_gmt":"2023-04-11T09:04:17","slug":"private-crypto-keys","status":"publish","type":"post","link":"https:\/\/www.webtechmantra.com\/private-crypto-keys\/","title":{"rendered":"Wyoming Passes Bill to Prevent Forced Disclosure of Private Crypto Keys"},"content":{"rendered":"\n

Legislators in Wyoming have passed a bill prohibiting state courts from forcing someone to disclose their private keys to their digital assets and cryptocurrency with one limited exception. The US state’s House of Representatives approved the laws, which will not apply in cases with no alternative ways of accessing the required information. This bill only requires Wyoming Governor Mark Gordon to sign for it to effect.<\/p>\n\n\n\n

On February 15 2023, the bill was passed<\/a> in the 67th general session by a vote of 41-13 in the Wyoming House of Representatives, a day after passing 31-0 in the Wyoming Senate. The bill will go into effect on July 1 2023, if the governor of Wyoming, Mark Gordon, signs it. The new bill WS 34-29-107 is titled “Production of private keys; prohibition,” the private keys legislation comes under Chapter 29 \u2014 Digital Assets, which is a subset of Title 34 \u2014 Property, Conveyances and Security Transactions.\u00a0<\/p>\n\n\n\n

The bill states, “No person shall be compelled to produce a private key or make a private key known to any other person in any civil, criminal, administrative, legislative or another proceeding in this state that relates to a digital asset, digital identity or other interest or right to which the private key provides access unless a public key is unavailable or unable to disclose the requisite information concerning the digital asset, digital identity or other interest or right.” In the state of Wyoming, the incoming bill also states that the rules are not intended to disrupt “any lawful proceeding” that demands people to disclose the ownership or transfer of crypto.<\/p>\n\n\n\n

However, the new law notes that it will not prevent anyone from being forced “to produce, sell, transfer, convey or disclose a digital asset, digital identity or other interest or right” to which a private key could provide access. A person can still be compelled to disclose information about the digital asset.<\/p>\n\n\n\n

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