Wyoming Passes Landmark Bill Banning Forced Disclosure of Cryptocurrency Private Keys

Wyoming has once again cemented its position as one of the most crypto-friendly states in the US with the passing of a new bill that prohibits courts from compelling disclosure of private cryptographic keys. This is great news, although Wyoming, a crypto-friendly state, enacted a measure banning private key disclosure. The legislature in Wyoming's House of Representatives has passed a bill that prevents the forced disclosure of private cryptographic keys by the state's courts.

Protecting Cryptocurrency Users' Privacy

A bill, protecting cryptocurrency users from forced disclosure of their private key to the state courts, has been passed by Wyoming lawmakers. Legislators in Wyoming have approved a bill which forbids the state’s courts from ordering anyone to reveal the secret keys to their digital assets.

Key Highlights of the New Wyoming Cryptocurrency Bill

The bill, passed Tuesday and titled “disclosure of private cryptographic keys,” is intended to advance lawful proceedings while also protecting investor privacy. The bill, set to take effect, prohibits forced and unlawful private key. On February 15, just one Wyoming lawmakers have passed a bill seeking to protect the rights of bitcoin (BTC) and other digital asset holders by prohibiting forced and unlawful private key disclosure.

What This Means for Cryptocurrency Investors

If Governor Mark Gordon approves, it will take effect July 1. This new law safeguards individuals from being compelled to reveal their private keys, bolstering privacy and security within the cryptocurrency space in Wyoming.