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SEC Roundtable Discusses Privacy Tools for Stablecoins and Crypto Surveillance Balance

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The U.S. Securities and Exchange Commission (SEC) recently held a roundtable on blockchain privacy tools, stressing the need to balance privacy with oversight. SEC Chair Gary Gensler and experts discussed the broader use of privacy tools beyond illicit activity, urging against turning crypto into a surveillance system. KuCoin crypto exchange representatives joined the conversation, highlighting the need for updated KYC and AML processes using cryptographic methods. Katherine Kirkpatrick Bos and Wayne Chang emphasized modernizing compliance to protect user privacy while preventing crime. The discussion also noted rising demand for privacy in stablecoins, with a trusted crypto exchange like KuCoin seeing potential for broader blockchain adoption through improved privacy features.
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