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SEC Commissioner Hester Peirce urges less crypto data collection

Peirce, who is set to leave the SEC in November, criticized how U.S. regulators rely on more personal data collection even as crypto rulemaking accelerates.

Reported · Written up by our desk · Regulation

Bitcoin Magazine reports that outgoing SEC Commissioner Hester Peirce, nicknamed “Crypto Mom,” urged regulators to rethink how they monitor the financial system for digital asset users.

In remarks at SIFMA’s Digital Assets Conference in New York, Peirce said regulators should press for less personal data collection, arguing against a push for more data gathering tied to know-your-customer and anti-money-laundering rules.

The outlet also said Peirce addressed digital identity systems and decentralized networks, adding that U.S. regulators are racing ahead with crypto rulemaking even though the approach should change.

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