back Back

Wyoming’s New Law Protects Digital Asset Owners’ Privacy

Mar. 15, 2023.
1 min. read Interactions

Wyoming protects digital asset owners' privacy with new law preventing forced disclosure of private keys.

About the Writer

Lewis Farrell

26.68268 MPXR

Highly curious about things that increase my awareness, expand my perception, and make me open to being a better person.

Wyoming Governor Mark Gordon has signed legislation to protect digital asset owners’ privacy. Except in cases where individuals are required to disclose the ownership or transfer of crypto during a lawful proceeding, the law prohibits courts from requiring individuals to disclose their private keys. According to the new law, Wyoming courts will no longer compel individuals to provide access to any private keys that grant access to their digital assets, digital identity, or any other interests or rights that the private key provides. The only exception to this rule is when individuals are required to disclose cryptocurrency ownership or transfer during any legal proceeding.

Court-ordered disclosure of private keys contradicts how private keys are intended to work, and the courts lack the experience to protect private keys. Wyoming, as a state, has taken a crypto-friendly approach to regulating cryptocurrency in the US, becoming the first jurisdiction to recognize decentralized autonomous organizations as limited liability business entities. The new law aims to clarify the legal status of a private key and how courts should treat it, while also protecting digital asset holders’ privacy and property rights.

Source: CoinTelegraph (link)
Images: MidJourney, Prompts by Lewis Farrell

Interesting story? Please click on the 👍 button below!

Let us know your thoughts! Sign up for a Mindplex account now, join our Telegram, or follow us on Twitter

Comment on this content

1 Comments

One thought on “Wyoming’s New Law Protects Digital Asset Owners’ Privacy

  1. Was heading to wyoming but my daughter is moving to lehi utah so im leaving the progressive oregon coast and heading to the beehive state I hope i can beehive myself
    Like
    Dislike
    Share
    Reply
Like
Dislike
Share

1

Comments
Reactions
💯 💘 😍 🎉 👏
🟨 😴 😡 🤮 💩

Here is where you pick your favorite article of the month. An article that collected the highest number of picks is dubbed "People's Choice". Our editors have their pick, and so do you. Read some of our other articles before you decide and click this button; you can only select one article every month.

People's Choice
Bookmarks