Wyoming Lawmakers Pass Bill Preventing Disclosure Of Private Keys –

On Feb 16, 2023

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What- The Wyoming House of Representatives passes a bill to prevent forced disclosure of private keys
Why- The bill restrains any individual from disclosing their private keys unless the public key is unavailable.
What Next- The bill is set to be effective as of July 1 this year

The Wyoming House of representatives compels the production of the private keys that relates to a digital asset in a bill passed by the lawmakers on Wednesday. A private key is a key used to sign transactions and prove ownership of a blockchain address.

BIG STUFF–today the #Wyoming legislature passed a bill prohibiting compelled disclosure of private keys (w/ some exceptions), by a veto-proof majority! CONGRATS to @rothfuss @JaredSOlsen @itsmikeyin & special thx @ChristopherA. Next stop @governorgordon🤠https://t.co/qu0OoWMzKO
— Caitlin Long 🔑⚡️🟠 (@CaitlinLong_) February 16, 2023

The bill dubbed ‘’ production of private keys; prohibition’’ noted:

No person shall be compelled to produce a private key or make it known to any other person in any civil, criminal, or proceeding in this state.

However, the law is yet to be approved by Wyoming Governor Mark Gordon, which will be effective as from July 1, 2023. Notably, there is a minor instance where one could provide a private key. This is when the public key is unavailable and cannot provide the required information, such as digital identity or digital asset.

Additionally, the bill stipulates that the rules will not bar any individual from being compelled to ‘’produce, sell, transfer, convey, or disclose the digital identity, digital asset or other rights to which the private key could give access.’’

Wyoming focuses on the crypto space.

However, Wyoming has been praised as one of the most crypto-friendly states in the United States. In July 2021, it was the first state in the U.S. to bring forward Decentralized Autonomous Organization (DAO) that governed decentralized finance. Notably, Ripple registered as Wyoming- a based business.