The Wyoming legislature recently passed a measure that, with one small exception, would make it illegal for state judges to compel people to provide the secret keys to their digital assets.

On February 15, the measure passed the Wyoming House of Representatives with a vote of 41-13, one day after receiving the approval of the Wyoming Senate with a vote of 31-0.

The new legislation is scheduled to take effect on July 1 of this year if Wyoming Gov. Mark Gordon signs the measure into law.

According to the soon-to-be-enacted law in the state of Wyoming, “No person shall be compelled to produce a private key or disclose a private key to another person in any civil, criminal, administrative, legislative, or other proceeding.” “. proceed[s]”, in Wyoming. “No person shall be compelled to produce a private key or to disclose a private key to another person.”

The legislation covers any private key that is connected to a person’s digital assets, digital identity, or any other interest or right provided by the private key.

The only exception to this rule is in situations where a public key cannot be accessed or you cannot disclose specific details of a digital asset, digital identity, or any other interest or right.

However, the law also states that the new law will not prevent anyone from being compelled to “produce, sell, transfer, transmit, or disclose a digital asset, digital identity, or other interest or right” to which a private key could provide access. . This provision establishes that the new law will not prohibit the disclosure of digital assets, digital identities or other interests or rights.

In addition to this, it does not protect an individual from being forced to “disclose information about the digital asset, digital identity, or other interest or right.”

The new statute will be known as “Private Key Production – Prohibition” and will be numbered WS 34-29-107.

The law regarding private keys is found in Chapter 29, which is titled “Digital Assets.” This chapter is a subset of Title 34, which is titled “Property Transactions, Transfers, and Securities.”

Private key legislation has been in the works since September 2019, with the passage of the bill coming as a result of progress on the law.

Wyoming has a long history of being recognized as one of the most crypto-friendly states in the United States.

It was the first state in the United States to declare a decentralized autonomous organization (DAO) as a limited liability company (LLC) in July 2021. Additionally, it had previously considered a state-issued stablecoin in February 2022; however, it appears that those efforts have not made much progress since then.