State Bill Amendment Could Require Crypto Wallet Recovery Backdoors
The report says a buried amendment in a state bill would require crypto wallets to offer account recovery access if the measure passes the Senate.
Summary
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Terms & Concepts
Crypto wallet: A tool that stores the private keys used to access and manage digital assets on a blockchain.
Backdoor recovery: A recovery mechanism that allows access to a wallet through an alternative method, which can reduce self-custody control and affect security.