SEC Commissioner Peirce: We should protect the rights to privacy in shielded transactions of Crypto Assets and oppose holding developers accountable.

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[Chain News] On August 5, news came that Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), stated on Monday that legislative and regulatory bodies should protect individuals' rights to privately trade Crypto Assets. Currently, the trial of Roman Storm regarding the Tornado Cash case is nearing a verdict, as he is accused of the crypto tumbler being used for Money Laundering.

Peirce believes that privacy protection technologies and self-custody rights should be protected, and developers should not be held responsible for the usage of others' software. It is futile to require open-source agreements to comply with financial regulatory measures. Peirce also points out that regulators should not require companies to record transaction counterparts. The rules for decentralized financial brokers attempted to implement this requirement during the Biden administration but have been abolished.

In addition, if Storm is convicted or faces up to 40 years in prison, his defense team and industry insiders believe that software developers should not be held responsible for the actions of others. In similar cases, the co-founder of Samourai Wallet has pleaded guilty.

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CommunityWorkervip
· 08-07 05:00
Who really has the final say~
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ConsensusBotvip
· 08-06 07:36
The SEC has surprisingly started to understand reason.
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LiquidationWatchervip
· 08-05 06:46
finally some sense from sec... been rekt enough by their overreach tbh
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ZenZKPlayervip
· 08-05 06:37
The boundaries between black and white are unclear, how to judge?
View OriginalReply0
DarkPoolWatchervip
· 08-05 06:34
Exposing the dark trading pools of the Blockchain, the viewpoint is sharp and to the point.
View OriginalReply0
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