The proposed bill, known as the "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 in Wyoming. It 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 bill also provides definitions for key terms related to blockchain and cryptocurrency, such as "0x Addresses," "cryptographically sign," and "token."

Additionally, the bill authorizes the Attorney General to initiate lawsuits or intervene in existing lawsuits to protect the rights of Wyoming residents and businesses against perceived federal infringements. However, the Attorney General must first obtain approval from the governor before taking such actions. The act is set to take effect on July 1, 2025.