U.S. Securities & Exchange Commission Commissioner Mark T. Uyeda delivered remarks at the Crypto Task Force roundtable on financial surveillance and privacy, arguing that regulatory approaches to new financial technologies should better balance law enforcement and market integrity objectives with individual privacy and constitutional protections. He warned that indiscriminate collection and aggregation of personal financial data by government and private entities can be inconsistent with privacy and financial independence, and can enable abuse by revealing sensitive information about individuals’ habits and preferences. Uyeda noted that technologies enabling mobile transfers, crypto asset staking, and value storage can reduce reliance on intermediaries, raising questions about how the Bank Secrecy Act should be applied or revised, and he pointed to privacy-enhancing approaches such as zero-knowledge proofs as potential tools to support verification while preserving privacy rights.
U.S. Securities & Exchange Commission 2025-12-15
U.S. Securities & Exchange Commission Commissioner Uyeda raises Bank Secrecy Act and privacy concerns in crypto financial surveillance debate
SEC Commissioner Mark T. Uyeda stressed balancing law enforcement and market integrity with privacy at the Crypto Task Force roundtable. He warned against indiscriminate personal data collection, citing potential privacy abuses. Uyeda suggested privacy-enhancing technologies like zero-knowledge proofs to support verification while preserving privacy rights.