Two days before announcing she's leaving the SEC, Hester Peirce gave a speech called Looking for Change in Haystacks.
Her argument: replace KYC document collection with zero knowledge proofs and attribute based credentials. Prove your age, citizenship or sanctions status without handing over the documents themselves.
"We build ever bigger data haystacks on the theory that we will find a needle or two inside. The bigger the haystack, however, makes it harder to find the needles."
Her personal view, not SEC policy. But it's on the federal record now, and one of the few people in government aligned with us is gone.
https://ungovernable.network/shows/bitcoin-brief/did-bitcoin-just-go-dark/
Her argument: replace KYC document collection with zero knowledge proofs and attribute based credentials. Prove your age, citizenship or sanctions status without handing over the documents themselves.
"We build ever bigger data haystacks on the theory that we will find a needle or two inside. The bigger the haystack, however, makes it harder to find the needles."
Her personal view, not SEC policy. But it's on the federal record now, and one of the few people in government aligned with us is gone.
https://ungovernable.network/shows/bitcoin-brief/did-bitcoin-just-go-dark/
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