Wyoming Prohibits Courts From Forcing Individuals To Disclose Private Keys From July 1
Key Points:
- The US Wyoming House of Representatives passed a bill that would prohibit courts in the state from forcing individuals to disclose their digital asset private keys.
- An exception may be made if the public key is unavailable or details of the digital asset, digital identity or other interests or rights cannot be disclosed.
- The law will come into force on July 1, 2023.
The US Wyoming House of Representatives approved a measure that would forbid state courts from requiring citizens to provide private keys to their digital assets.
W.S. 34-29-107, the new statute, is titled Production of private keys; prohibition. Private keys for digital assets, one’s digital identity, and any other interests or rights that the private key confers are all included. It will be illegal for state courts to order someone to provide their private digital asset keys.
“No person shall be compelled to produce a private key or make a private key known to any other person in administrative, any legislative or other proceeding in civil, criminal, 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 with respect to the digital asset, digital identity or other interest or right,” the incoming law reads.
On February 15, just one day after passing 31-0 in the Wyoming Senate, the measure was approved by a vote of 41-13 in the Wyoming House of Representatives. The law will go into effect on July 1 if Mark Gordon, the governor of Wyoming, approves it.
If the public key is unavailable or specifics on the digital asset, digital identity, or other interests or rights cannot be provided, an exception could be made. On July 1, 2023, the law will go into effect.
However, the legislation notes that the new rule will not stop one from being compelled to create, sell, transfer, communicate or divulge a digital asset, digital identity or other interest or right that a private key may allow access to. A person can still be forced to disclose information about the digital asset, digital identity, or other interests or right notwithstanding this.
As one of the US states that is most supportive of cryptocurrencies, Wyoming has long been praised. The measure was approved despite the fact that work on the private key law began as early as September 2019.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
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Wyoming Prohibits Courts From Forcing Individuals To Disclose Private Keys From July 1
Key Points:
- The US Wyoming House of Representatives passed a bill that would prohibit courts in the state from forcing individuals to disclose their digital asset private keys.
- An exception may be made if the public key is unavailable or details of the digital asset, digital identity or other interests or rights cannot be disclosed.
- The law will come into force on July 1, 2023.
The US Wyoming House of Representatives approved a measure that would forbid state courts from requiring citizens to provide private keys to their digital assets.
W.S. 34-29-107, the new statute, is titled Production of private keys; prohibition. Private keys for digital assets, one’s digital identity, and any other interests or rights that the private key confers are all included. It will be illegal for state courts to order someone to provide their private digital asset keys.
“No person shall be compelled to produce a private key or make a private key known to any other person in administrative, any legislative or other proceeding in civil, criminal, 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 with respect to the digital asset, digital identity or other interest or right,” the incoming law reads.
On February 15, just one day after passing 31-0 in the Wyoming Senate, the measure was approved by a vote of 41-13 in the Wyoming House of Representatives. The law will go into effect on July 1 if Mark Gordon, the governor of Wyoming, approves it.
If the public key is unavailable or specifics on the digital asset, digital identity, or other interests or rights cannot be provided, an exception could be made. On July 1, 2023, the law will go into effect.
However, the legislation notes that the new rule will not stop one from being compelled to create, sell, transfer, communicate or divulge a digital asset, digital identity or other interest or right that a private key may allow access to. A person can still be forced to disclose information about the digital asset, digital identity, or other interests or right notwithstanding this.
As one of the US states that is most supportive of cryptocurrencies, Wyoming has long been praised. The measure was approved despite the fact that work on the private key law began as early as September 2019.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
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