SEC Commissioner Peirce Gives Fundamental Speech Every Crypto Holder Should Read

Key Points

1. Pro-crypto SEC Commissioner Hester Peirce gave a speech on privacy, calling for updates to the Bank Secrecy Act (BSA) and third-party doctrine.

2. Peirce highlighted the overcollection of data by the government, which is often not useful, and stressed the importance of guarding financial privacy.

3. She cited technologies like cryptography, zero-knowledge proofs, and smart contracts as reducing reliance on third parties in financial transactions.

4. Industry experts, including Peter Van Valkenburgh and Nate Geraci, praised Peirce's speech as a clear and important articulation of crypto-related issues.