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SEC commissioner calls for zero-knowledge proofs to cut KYC data storage

SEC Commissioner Mark Peirce said her privacy proposals would not change existing compliance rules.

Reported · Written up by our desk · Regulation

The Defiant reports that SEC Commissioner Mark Peirce urged regulators to use zero-knowledge proofs to reduce the amount of customer data collected during KYC checks.

Peirce also proposed that institutions reuse identity checks rather than repeatedly storing customer details.

According to The Defiant, Peirce said her privacy-focused proposals would not change existing compliance rules for regulated firms.

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