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SlowMist founder Cos said that Chainflip is blocking the Bitget hacker from transferring funds, but AML and on-chain tracking are slower than the automated money laundering process.
SEC Commissioner Hester Peirce calls for a reassessment of KYC and AML regulation, arguing that excessive data collection may impede the identification of genuine risks. She proposed exploring the use of zero-knowledge proofs to verify compliance without exposing personal data.
SEC Commissioner Hester Peirce stated that regulators should reduce personal data collection in KYC and AML and explore zero-knowledge proofs and attribute-based credentials. She also suggested reducing redundant identity verification.