### According to the soon-to-be-passed law, no individual shall be required to produce a private key or divulge a private key to any other person in any civil, criminal, administrative, legislative, or other procedure.


Legislators in Wyoming have approved a bill that prevents the state's courts from requiring anyone to surrender the private keys to their digital assets. The bill is anticipated to go into effect in July after being signed by the governor of Wyoming.



This type of legislation can help promote privacy and security for individuals who own digital assets like cryptocurrencies. By prohibiting courts from forcing disclosure of private keys or other access methods, individuals may feel more comfortable storing and using their digital assets without fear of legal action or government interference.



The bill only applies to Wyoming state law and does not override federal law, so the rules and regulations around digital assets may still vary depending on the jurisdiction and applicable laws.



Wyoming is one of the most crypto-friendly regulatory environments in the United States. In 2019, the state passed a series of laws that created a framework for the regulation and use of digital assets.



Some of the key provisions of the Wyoming laws include:



Digital assets are defined as property, and are treated as such under the law.


Wyoming created a new type of bank called a "special-purpose depository institution" (SPDI), which is designed specifically to serve the needs of crypto companies. SPDI's are able to provide custody services for digital assets, and can also hold deposits in fiat and digital currencies.


The state also exempted digital assets from state property taxes and provided clarity on the treatment of digital assets in estate planning and taxation.


Ultimately, the impact of a bill prohibiting courts from forcing disclosure of digital assets will depend on a variety of factors, including the specific details of the legislation and how it is implemented in practice. Policymakers must carefully consider the potential benefits and drawbacks of this type of legislation in order to make informed decisions that best serve the needs of their constituents.



 

According to the soon-to-be-passed law, no individual shall be required to produce a private key or divulge a private key to any other person in any civil, criminal, administrative, legislative, or other procedure.

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