SEC Commissioner Advocates for Privacy and Permissionlessness in Bitcoin
In a recent fireside chat at New York City’s Bitcoin-themed bar, PubKey, SEC Commissioner Hester Peirce emphasized the significance of permissionless technology like Bitcoin and the need to protect transactional privacy for U.S. citizens.
During the engaging conversation with NYDIG founder Ross Stevens, Peirce highlighted how Bitcoin serves as a tool for freedom fighters and addressed the potential risks of government interference, drawing parallels to historical events like Executive Order 6102 that allowed the government to seize citizens’ gold.
Peirce underscored the importance of treating code as speech to ensure developers’ freedom to innovate without undue restrictions. She also stressed the right of Americans to use crypto mixers for financial privacy, advocating for technologies that preserve both privacy and usability.
The discussion also delved into the complexities of the Bank Secrecy Act and the challenges associated with financial institutions collecting vast amounts of personal data, showcasing the ongoing debate around striking a balance between privacy and anti-money laundering concerns.
Peirce’s attentive and thoughtful responses to audience questions reflected her genuine commitment to ensuring that regulatory oversight does not hinder the potential of Bitcoin and crypto to revolutionize traditional financial systems. Her closing remarks resonated with the audience, receiving warm applause from crypto enthusiasts.
This insightful dialogue underscores the evolving landscape of regulatory discussions surrounding digital assets and the critical need to uphold privacy and permissionlessness in the crypto space.
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