2024 -- S 2702 | |
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LC005465 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2024 | |
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A N A C T | |
RELATING TO STATE AFFAIRS AND GOVERNMENT -- DIGITAL ASSET KEYS-- | |
PROHIBITION OF PRODUCTION OF PRIVATE KEYS | |
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Introduced By: Senators DiPalma, Ciccone, Zurier, and Gu | |
Date Introduced: March 01, 2024 | |
Referred To: Senate Commerce | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Title 42 of the General Laws entitled "STATE AFFAIRS AND |
2 | GOVERNMENT" is hereby amended by adding thereto the following chapter: |
3 | CHAPTER 64.35 |
4 | DIGITAL ASSET KEYS -- PROHIBITION OF PRODUCTION OF PRIVATE KEYS |
5 | 42-64.35-1. Short title. |
6 | This chapter shall be known and may be cited as the "Digital Asset Keys -- Prohibition of |
7 | Production of Private Keys." |
8 | 42-64.35-2. Purpose. |
9 | This act prohibits the compelled production of a private key that relates to a digital asset. |
10 | 42-64.35-3. Definitions. |
11 | As used in this chapter the following words and phrases shall have the following meanings, |
12 | unless the context otherwise requires: |
13 | (1) "Private key" means a unique element of cryptographic data, or any substantially similar |
14 | analogue, which is: |
15 | (i) Held by a person; |
16 | (ii) Paired with a unique, publicly available element of cryptographic data; and |
17 | (iii) Associated with an algorithm that is necessary to carry out an encryption or decryption |
18 | required to execute a transaction. |
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1 | 42-64.35-4. Public key exception. |
2 | No person shall be compelled to produce a private key or make a private key known to any |
3 | other person in any civil, criminal, administrative, legislative or other proceeding in this state that |
4 | relates to a digital asset, digital identity or other interest or right to which the private key provides |
5 | access unless a public key is unavailable or unable to disclose the requisite information with respect |
6 | to the digital asset, digital identity or other interest or right. |
7 | 42-64.35-5. No prohibition for lawful proceeding. |
8 | This section shall not be interpreted to prohibit any lawful proceeding that compels a |
9 | person to produce, sell, transfer, convey or disclose a digital asset, digital identity or other interest |
10 | or right to which a private key provides access, or to disclose information about the digital asset, |
11 | digital identity or other interest or right; provided that, the person is not required to produce or |
12 | disclose the private key except as otherwise required in this section. |
13 | SECTION 2. This act shall take effect upon passage. |
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LC005465 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO STATE AFFAIRS AND GOVERNMENT -- DIGITAL ASSET KEYS-- | |
PROHIBITION OF PRODUCTION OF PRIVATE KEYS | |
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1 | This act would prohibit the compelled production of a private key as it relates to a digital |
2 | asset, digital identity or other interest or right. |
3 | This act would take effect upon passage. |
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