SEC’s Peirce Urges Rethink of KYC Data Collection
In one of her final speeches as SEC commissioner, Hester Peirce warned that regulatory data collection can put the people it is meant to protect at risk.
Hester Peirce called for a rethink of know-your-customer requirements in one of her final speeches as a commissioner at the U.S. Securities and Exchange Commission, according to Decrypt.
Peirce argued that the large volumes of personal information gathered for regulatory purposes can create risks for the people those rules are intended to safeguard.
Her remarks came amid recent leaks of KYC information that have exposed cryptocurrency holders to phishing and physical attacks, highlighting the security implications of collecting sensitive customer data.
Source: Decrypt
