🚨 JUST IN : SEC Commissioner Hester Peirce calls to end mass KYC data collection Warns existing KYC/AML frameworks create massive "data haystacks" vulnerable to hacks, phishing, and even physical attacks — "more surveillance will turn our financial rails into a panopticon" 👀 Pushes zero-knowledge proofs as the alternative: "A zero-knowledge proof can tell a counterparty 'yes, this person meets your requirement' without that counterparty knowing your name, income, or address" Made during her second-to-last week as commissioner — these are her personal views, not adopted SEC policy yet She's not arguing against catching bad actors — she's arguing the current method of collecting everything about everyone makes the system less secure, not more ⛓️
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