SEC’s Peirce Backs Zero-Knowledge Proofs for KYC

SEC’s Peirce backs zero-knowledge proofs for KYC

SEC Commissioner Hester Peirce urged regulators to use zero-knowledge proofs to reduce personal data collection in KYC and AML compliance.

SEC Commissioner Hester Peirce Advocates Privacy Tech

Outgoing Securities and Exchange Commission Commissioner Hester Peirce has said that regulators should rethink how they monitor the financial system, and to press for less personal data collection, not more.  In a speech Wednesday focusing on digital identity systems and decentralized networks, Peirce took aim at know-your-customer and anti-money-laundering rules. U.S. regulators are now racing ahead with crypto rulemaking. Peirce, who earned th…

Hester Peirce calls for less KYC data and more cryptographic privacy

In a last-minute speech as an SEC commissioner, Hester Peirce pointed out that the financial system collects too much personal data for identification while protecting too few individuals, and that cryptography could solve both issues at once.  The message matters to all crypto holders whose passports and transaction histories are stored in vulnerable databases, and...

SEC’s Hester Peirce Calls for Zero-Knowledge Proofs in KYC

Can zero-knowledge proofs replace KYC data collection? SEC’s Hester Peirce says yes; here’s her case for privacy-first compliance. SEC Commissioner Hester Peirce has pushed for zero-knowledge proofs as a way to bring KYC and anti-money laundering practices into the...

SEC Commissioner Peirce Calls for Less KYC Data Collection

Hester Peirce urged greater use of attribute-based credentials and zero-knowledge proofs to reduce unnecessary personal-data collection while verifying eligibility.