US SEC Commissioner Hester Peirce emphasized the need to protect individuals' rights to private transactions at the Science of Blockchain Conference. With the trial of Tornado Cash co-founder Roman Storm approaching a verdict, she spotlighted the importance of privacy technologies and argued that developers shouldn't be penalized for misuse of their software. Peirce recalled past governmental attempts to restrict strong cryptography in the 1990s and highlighted that strong privacy protections are essential for innovation and freedoms, akin to physical money transactions in the context of the Fourth Amendment. She also opposed regulatory measures that would require businesses to monitor and disclose transactions between peers, advocating for a technology environment that remains permissionless for beneficial uses. Storm is facing charges related to alleged facilitation of money laundering using Tornado Cash, which is designed to obscure cryptocurrency transactions. These events unfold amidst a broader debate on the balance between privacy, safety, and regulation in the crypto space.

Source 🔗