{"id":375833,"date":"2023-02-16T07:54:15","date_gmt":"2023-02-16T12:54:15","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=375833"},"modified":"2023-02-16T07:54:15","modified_gmt":"2023-02-16T12:54:15","slug":"wyoming-lawmakers-pass-bill-preventing-disclosure-of-private-keys","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/wyoming-lawmakers-pass-bill-preventing-disclosure-of-private-keys","title":{"rendered":"Wyoming Lawmakers Pass Bill Preventing Disclosure Of Private Keys"},"content":{"rendered":"<ul>\n<li><strong>What- <\/strong>The Wyoming House of Representatives passes a bill to prevent forced disclosure of private keys<\/li>\n<li><strong>Why- <\/strong>The bill restrains any individual from disclosing their private keys unless the public key is unavailable.<strong>&nbsp; <\/strong><\/li>\n<li><strong>What Next-<\/strong> The bill is set to be effective as of July 1 this year<\/li>\n<\/ul>\n<p>The Wyoming House of representatives compels the production of the private keys that relates to a digital asset in a <a href=\"https:\/\/wyoleg.gov\/Legislation\/2023\/HB0086\" target=\"_blank\" rel=\"noopener\">bill<\/a> passed by the lawmakers on Wednesday. A private key is a key used to sign transactions and prove ownership of a blockchain address.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BIG STUFF&ndash;today the <a href=\"https:\/\/twitter.com\/hashtag\/Wyoming?src=hash&amp;ref_src=twsrc%5Etfw\">#Wyoming<\/a> legislature passed a bill prohibiting compelled disclosure of private keys (w\/ some exceptions), by a veto-proof majority! CONGRATS to <a href=\"https:\/\/twitter.com\/rothfuss?ref_src=twsrc%5Etfw\">@rothfuss<\/a> <a href=\"https:\/\/twitter.com\/JaredSOlsen?ref_src=twsrc%5Etfw\">@JaredSOlsen<\/a> <a href=\"https:\/\/twitter.com\/itsmikeyin?ref_src=twsrc%5Etfw\">@itsmikeyin<\/a> &amp; special thx <a href=\"https:\/\/twitter.com\/ChristopherA?ref_src=twsrc%5Etfw\">@ChristopherA<\/a>. Next stop <a href=\"https:\/\/twitter.com\/GovernorGordon?ref_src=twsrc%5Etfw\">@governorgordon<\/a>&#129312;<a href=\"https:\/\/t.co\/qu0OoWMzKO\">https:\/\/t.co\/qu0OoWMzKO<\/a><\/p>\n<p>&mdash; Caitlin Long &#128273;&#9889;&#65039;&#128992; (@CaitlinLong_) <a href=\"https:\/\/twitter.com\/CaitlinLong_\/status\/1626069350468689920?ref_src=twsrc%5Etfw\">February 16, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The bill dubbed &lsquo;&rsquo; production of private keys; prohibition&rsquo;&rsquo; noted:<\/p>\n<blockquote><p><em>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.<\/em><\/p><\/blockquote>\n<p>However, the law is yet to be approved by Wyoming Governor Mark Gordon, which will be effective as from July 1, 2023.&nbsp; Notably, there is&nbsp; 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.<\/p>\n<p>Additionally, the bill stipulates that the rules will not bar any individual from being compelled to &lsquo;&rsquo;produce, sell, transfer, convey, or disclose the digital identity, digital asset or other rights to which the private key could give access.&rsquo;&rsquo;<\/p>\n<h2><strong>Wyoming focuses on the crypto space.<\/strong><\/h2>\n<p>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 <a href=\"https:\/\/insidebitcoins.com\/news\/ripple-officially-registers-as-wyoming-based-business\">registered<\/a> as Wyoming- a based business.<\/p>\n<h3>More News:<\/h3>\n<ul>\n<li><a class=\"article-header-title\" href=\"https:\/\/insidebitcoins.com\/news\/us-sec-seeks-to-expand-the-scope-of-custody-rules-in-the-crypto-sector\" rel=\"bookmark\">US SEC seeks to expand the scope of custody rules in the crypto sector<\/a><\/li>\n<li><a class=\"article-header-title\" href=\"https:\/\/insidebitcoins.com\/news\/youre-all-idiots-says-billionaire-charlie-munger\" rel=\"bookmark\">&ldquo;You&rsquo;re All Idiots,&rdquo; Says Billionaire Charlie Munger<\/a><\/li>\n<li><a class=\"article-header-title\" href=\"https:\/\/insidebitcoins.com\/news\/blur-nft-airdrop-blur-price-prediction-best-crypto-to-buy-now\" rel=\"bookmark\">Blur NFT Airdrop &amp; $BLUR Price Prediction &ndash; Best Crypto to Buy Now?<\/a><\/li>\n<\/ul>\n                                        <div 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Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1910,"featured_media":105732,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[10403,9161],"class_list":["post-375833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bill","tag-wyoming"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wyoming Lawmakers Pass Bill Preventing Disclosure Of Private Keys -<\/title>\n<meta name=\"description\" content=\"The Wyoming House of representatives compelled the production of the private key that in a bill passed by the lawmakers\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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