Hester Peirce: Blockchain transparent ledger combined with zero knowledge proof can reshape financial regulation

SEC Commissioner Hester Peirce stated at the SIFMA Digital Asset Conference that regulatory agencies should shift from collecting more data to utilizing new technologies for precise verification. Hester Peirce stated that technologies such as zero knowledge proofs can verify whether users meet requirements such as age, citizenship, qualified investor status, or sanction lists without disclosing underlying personal information such as name, income, or address. Hester Peirce suggests that the federal government and regulated agencies adopt attribute based authentication and allow registered entities to rely on third-party authentication to reduce the collection of sensitive information.