Wyoming's House of Representatives has passed a bill that prevents the forced disclosure of private cryptographic keys by the state's courts. The bill, set to take effect in July, aims to protect crypto owners' privacy by prohibiting the compelled production of private keys in any legal proceeding, except in cases where information relevant to the case is not available through alternative means.
Private keys are essential to verifying crypto transactions and proving ownership of digital assets or blockchain addresses. The rules will not disrupt any lawful proceeding that requires people to disclose ownership or transfer of cryptocurrency.
Wyoming has been a pioneer in blockchain-related legislation in the United States, previously passing laws for a blockchain filing system and a legal framework for decentralized autonomous organizations (DAOs) that govern decentralized finance. The state's latest move is yet another effort to bolster its reputation as a crypto-friendly jurisdiction and a hub for blockchain innovation.
Policy and Regulation