SEC Commissioner Hester Peirce Proposes Reshaping Financial Regulation with Blockchain and Zero-Knowledge Proofs

At the SIFMA Digital Assets Conference, SEC Commissioner Hester Peirce stated that regulators should shift from the traditional approach of "collecting more data" to utilizing new technologies for precise verification. Peirce pointed out that technologies such as zero-knowledge proofs can verify whether users meet requirements such as age, citizenship, accredited investor status, or sanctions lists without disclosing personal information like names, income, or addresses. Peirce suggested that the federal government and regulated entities adopt attribute-based verification where technically feasible, allowing registered entities to rely more on third-party identity verification to reduce the repeated collection and storage of sensitive information. She also mentioned that public blockchains have permanent, public, and auditable transaction records, and combined with blockchain forensic tools, they hold the potential to enhance tracking capabilities for illegal activities while reducing unnecessary data collection.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.