The proposed "Cryptographic Frontiers Act" mandates the Wyoming Attorney General to investigate claims of federal overreach related to blockchain and cryptocurrency actions reported by residents and businesses. The bill outlines specific areas of concern, including unlawful financial service disruptions, restrictions on free expression through blockchain transactions, unreasonable searches or seizures of digital assets, and unlawful federal actions compelling the disclosure of private keys and other sensitive information. The Attorney General is authorized to initiate lawsuits or intervene in existing cases to protect the rights of Wyoming residents, contingent upon the approval of the governor.
Additionally, the bill provides definitions for key terms related to blockchain and cryptocurrency, such as "0x Addresses," "cryptographically sign," and "token." It emphasizes the importance of safeguarding the rights of individuals and businesses in Wyoming against perceived federal infringements in the rapidly evolving digital asset landscape. The act is set to take effect on July 1, 2025.