US Digital-Asset Industry Urges Continuity of 'Crypto Mom's' Policy Approach

US digital-asset industry leaders are urging policymakers to continue the pro-digital-asset policy approach championed by departing SEC Commissioner Hester Peirce, known as 'Crypto Mom'.

Pierce has been a long-time advocate for clear regulatory guidance and spent eight years at the SEC pushing for rules rather than enforcement. She proposed a token safe harbor and led the SEC's crypto task force.

Will Schwartz, head of policy for the Blockchain Association, says Pierce highlighted the need for financial privacy in digital transactions, and that the current system relies on collecting large amounts of personal data from consumers.

Schwartz argues that blockchain and zero-knowledge proofs could offer an alternative to centralized data repositories, allowing individuals to prove their eligibility without disclosing unnecessary information.