Wyoming representatives succeed to pass a bill to prohibit the disclosure of crypto private key in court cases, in favor of the fund’s safety.
Wyoming is a popular US state for the crypto sector because over the past several years Wyoming’s House of Representatives introduced many crypto-friendly legislation to ensure the safety of the crypto investors in the US Crypto sector. In particular, Senator Cynthia Lummis contributed hugely in favor of Bitcoin, and also many times she talked about Bitcoin at high-level government conferences to support the Crypto sector against unclear regulatory policies.
Recently Wyoming’s House of Representatives successfully passed a bill that will help to prohibit the forced disclosure of private crypto keys by the U.S. state’s courts. This bill came into law in July of this year.
This means, after July 2023, no court proceeding will force any person related to that case to disclose the private key of his crypto wallet or address. It will help to maintain better safety for their crypto wallet amid any court case related to their crypto transactions.
It is worth noting that, the passed bill also includes a provision to force the person to disclose the Crypto private key under certain circumstances i.e if any court will not have any other option to proceed with the case forward without identifying the crypto address ownership or related things.
Bill noted that new rules are not intended to interfere with any law, rule, or any kind of court proceedings but help crypto wallet owners to remain safe from any financial loss.
Crypto private key
Crypto Private Key is an encrypted code, consisting of alphanumeric characters. Private Key is a very sensitive code corresponding to crypto wallet holders. Private key holders usually referred as an owner of that Crypto wallet.
Read also: Celsius planning to exit bankruptcy with a new startup project
Wyoming’ lawmakers to prohibit Crypto private key disclosure in a court case