US SEC Commissioner: "Government Must Actively Defend Citizens’ Financial Privacy"

According to The Block, a media outlet specializing in virtual assets (cryptocurrencies), on the 5th (local time), Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), emphasized the importance of financial privacy and argued that the government should actively protect citizens' rights to privacy.

Commissioner Peirce, in a speech at 'The Science of Blockchain Conference' hosted by Stanford University, said, "The government should passionately defend the people's right to lead private lives and also protect the technologies that make this possible."

She said, "Fears regarding financial privacy and its enabling technologies often stem from genuine intentions to protect the state from criminals and adversaries," and criticized, "While it's important to safeguard the nation, communities, and families, undermining financial privacy and impeding disintermediation technologies is a misguided approach."

She further added, "Governments should embrace self-custody technologies and privacy-enhancing technologies that allow people to hold assets directly."