BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Crypto-Friendly State Wyoming Passes Laws that Protect Users from Forced Disclosure of their Private Keys

by BlockNews Team
February 16, 2023
in CRYPTO, MEDIA, POLITICS, SOCIAL
Reading Time: 3 mins read
A A
1
SHARES
14
VIEWS
Share on XShare in TelegramShare on Reddit
  • Crypto-friendly state Wyoming passes laws on private keys.
  • The Private keys law comes with a minor exception.
  • This move by Wyoming could be a great advantage for the crypto space.

The lawmakers in Wyoming have made an enormous decision to pass a bill that protects individuals in the state from any threats of force to divulge their private, with a limited exception. 

All that is left is for the governor of the state of Wyoming, Mark Gordon, to sign the bill so it can go into effect from July 1st of this year. The account is to be passed with only minor exceptions. In a vote of 41-13 in the House of Representatives of Wyoming, the bill received approval just a day after it received 31-0 from the senate of the state of Wyoming. 

The primary purpose of the law is to ensure that no individual is ever compelled to give away a private key or to allow their private key to be known to any other person through force, regardless of if the person is in any criminal, civil, legislative or administrative proceedings in Wyoming. In addition, the law includes that any other private keys attached to the digital identity, rights, or interests of the individual are also not subject to forced disclosure.

However, the exception in the law involves a public key being unavailable or not being used to disclose details of the digital assets, interests, rights, or digital identity necessary.  Another thing included in the law is that it will not be used as an excuse to stop one from being compelled to produce, sell, convey, transfer, or disclose digital assets, digital identity, and other interests necessary, which a private key could also be used to provide access. 

The state of Wyoming also went ahead in a report to disclose that the new law W.S 34-29-107 would be titled “Production of Private keys; Prohibition.” Reportedly, the bill has been in the works in Wyoming since early September 2019, even before the pandemic when crypto saw a considerable surge. Wyoming is also known as one of the most friendly crypto states in the United States. 

Wyoming has a reputation as the first state in the United States to declare a DAO (Decentralized Autonomous Organization) as a limited liability company back in July 2021 and has also been in the news for considering a state-issued Stablecoin around February 2022, has however not made much progress since then but given how the crypto space has been since the second half of last year, and it is not a shocking development.

Conclusion

The passing of this bill is an excellent advantage to the crypto space; if the bill’s emergence goes smoothly, it may push other states to consider making this a priority. 

In addition, this could push Wyoming into looking into its plans to create a state-issued stablecoin once again. 

Tags: BitcoincryptoPrivate KeysUSWyoming
TweetShareShare
Previous Post

Former FTX CEO Sam Bankman-Fried’s VPN Usage Restricted

Next Post

Ripple Donates $1 Million in XRP For Earthquake Victims in Turkey and Syria

DON'T MISS THESE! HOT OFF THE PRESS

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?
CRYPTO

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?

July 1, 2025
Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling
CRYPTO

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?
CRYPTO

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak
CRYPTO

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party
CRYPTO

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Load More

Related News

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?

July 1, 2025
Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.