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Crypto Users' Private Keys Now Protected by Law, But There's a Catch

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Thu, 16/02/2023 - 13:02
Crypto Users' Private Keys Now Protected by Law, But There's a Catch
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Chinese crypto journalist and blogger Colin Wu has reported that a bill has been passed in the U.S. State of Wyoming about crypto private keys that protect their owners from disclosing them on demand from authorities or in court.

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According to the document, no user will be driven to unveil their private keys related to digital assets held by them or allow a court to gain access to their digital identity. They cannot be forced to produce their private key even under "any civil, criminal, administrative, legal or other proceedings."

However, the document states that no individual is required to allow access to their private key "unless a public key is unavailable," or unless this private key cannot provide the information required.

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The document also says that despite the first section, the law will not protect a user from any legal procedures that require producing, selling, transferring or disclosing a digital asset they own.

The bill will come into force if it is signed by the Wyoming governor.

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