HB0041 • 2020

Disclosure of private cryptographic keys.

AN ACT relating to digital assets; specifying disclosure obligations applicable to private cryptographic keys; and providing for an effective date.

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor: Judiciary
Last action: 2020-02-10
Official status: inactive
Effective date: 3/1/2020

Plain English Breakdown

The official source material did not include a detailed summary or digest, which limits the ability to verify certain claims.

Rules for Sharing Private Keys of Digital Assets

The bill sets rules about when people can be asked to share their private keys for digital assets like virtual currencies.

What This Bill Does

Creates a new law that says no one can force someone else to give up or show their private key in most situations, except where required by lawful proceedings.
Defines what a 'private key' is.

Who It Names or Affects

People who use or own digital assets that require private keys for security and transactions.
Law enforcement and courts in cases involving digital assets.

Terms To Know

Private key: A secret code used to access and manage digital assets like cryptocurrencies.

Limits and Unknowns

The bill did not pass, so it does not have the force of law.
It only applies in Wyoming if passed into law.
Details about how this affects legal proceedings are limited by the summary provided.

Bill History

2020-02-10 House
H Failed Introduction 39-20-1-0-0
2020-02-07 House
H Received for Introduction
2020-01-08 LSO
Bill Number Assigned

Current Bill Text

Read the full stored bill text

20LSO-0163
2020
STATE OF WYOMING
20LSO-0163
Numbered
2.0

HOUSE BILL NO. HB0041

Disclosure of private cryptographic keys.

Sponsored by: Joint Judiciary Interim Committee

A BILL

for

AN ACT relating to digital assets; specifying disclosure obligations applicable to private cryptographic keys; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S. 34
‑
29
‑
107 is created to read:

34
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29
‑
107.

Production of private keys; prohibition
.

No person shall be compelled to produce a private key or make a private key known to any other person in any civil, administrative, legislative or other proceeding in this
state that only relates to a digital security or virtual currency to which the private key provides access. This paragraph shall not be interpreted to prohibit any lawful proceeding that compels a person to produce or disclose a digital security or virtual currency to which a private key provides access, or to disclose information about the digital security or virtual currency, provided that the proceeding does not require production or disclosure of the private key.

Section 2
.

W.S. 34
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29
‑
101(a) by creating a new paragraph (v) is amended to read:

34
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29
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101.

Definitions
.

(a)

As used in this chapter:

(v)

"Private key" means as defined by W.S. 34
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29
‑
103(e)(iii).

Section 3
.

This act is effective July 1, 2020
.

(END)

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HB0041