I am trying to create Client Certificates Authentication for my asp.net Website.
In order to create client certificates, I need to create a Certificate Authority first:<
In my case it was because the World Wide Publishing Service user didn't have permissions to the certificate. After installing the certificate, access the certificates module in MMC and right-click the certificate with the issue. Select "Manage Private Keys..." from the "All Tasks" menu and add the above user. This was SYSTEM user in my case.