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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.
BitMEX stated that it had September 23 ceased operations and allows eligible users in certain restricted regions, including the United States, Canada, and Hong Kong, China, to complete KYC before applying for withdrawals; trading services will not resume.
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.
Andy, founder of The Rollup, cited sources on X as saying that the US SEC is preparing to adjust KYC requirements so that users can access tokenized securities on-chain after a single verification.SEC has not been officially confirmed.