SEC Peirce dey urge blockchain privacy and BSA reform
SEC Commissioner Hester Peirce for August 4, 2025 don tok say make dem improve blockchain privacy and change Bank Secrecy Act (BSA) because di KYC requirements wey dey now dey cause unnecessary financial surveillance and make compliance cost high. She dey push for quick review of BSA to protect private value transfer, e talk say na like how Fourth Amendment dey protect cash. Peirce talk say blockchain-based privacy tech fit allow legal, private transactions without to dey reduce security even though e fit be misused. Coinbase legal chief Paul Grewal and CEO join call to change old BSA rules wey dey force too much customer data collection. Coin Center director Peter Van Valkenburgh warn say old federal laws dey use often to target correct users. This talk come as privacy tech prosecutions dey increase: Samourai Wallet founders don plead guilty and Tornado Cash developer Roman Storm trial dey come. Peirce push for crypto privacy reform fit change compliance framework and affect market movement as traders dey watch regulatory updates.
Bullish
SEC Commissioner Peirce dem dey endorse blockchain privacy and she call make dem reform di old Bank Secrecy Act, dis dey show say regulatory outlook go beta for privacy-focused crypto projects. Her position, wey Coinbase executives and privacy advocates back, fit reduce compliance wahala and make privacy tech legit, wey go increase demand for related tokens like TORN. Even though current prosecution of Samourai Wallet and Tornado Cash creators fit cause short-term wahala, Peirce push dey provide long-term clarity and confidence. Overall, dis development good for privacy coins and di wider crypto compliance sector cos e fit encourage innovation and boost market sentiment.