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HB 7957

AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- DIGITAL ASSET KEYS--PROHIBITION OF PRODUCTION OF PRIVATE KEYS

2026 Regular Session Introduced by Stephen Casey

Rhode Island bill would ban state entities and contractors from generating private cryptographic keys for digital assets, restricting government involvement in blockchain infrastructure.

03/05/2026 Committee recommended measure be held for further study
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Bill Summary · HB 7957

Legislative bill overview

HB 7957 proposes prohibiting the production of private cryptographic keys by state government entities or their contractors. The bill addresses concerns about government control over digital assets and blockchain-based systems by restricting state involvement in key generation processes.

Why is this important

Private keys are fundamental to cryptocurrency and blockchain security—whoever controls the keys controls the assets. This bill reflects growing debate about whether governments should manage digital assets directly or maintain distance from cryptographic key infrastructure. The outcome affects how Rhode Island might participate in emerging fintech systems and blockchain adoption.

Potential points of contention

  • Scope ambiguity: The bill's definition of "production" is unclear—does it prohibit only initial key generation, or all key management activities including storage and backup?
  • Practical governance gaps: Restricting government key production may complicate legitimate uses like managing public blockchain addresses for transparency, treasury operations, or regulatory compliance
  • Industry alignment unclear: The bill doesn't specify whether private contractors could generate keys on behalf of the state, potentially creating a loophole or unintended governance complexity

Compiled from official sources — confirm details with the bill’s official record.

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