SEC Commissioner Peirce defends privacy rights in transactions, Tornado Cash case verdict imminent

According to Cointelegraph, US Securities and Exchange Commission (SEC) Commissioner Hester Peirce stated on Monday that legislation and regulatory agencies should protect people's right to privately trade cryptocurrencies. At present, the Tornado Cash trial of Roman Storm is nearing its verdict, as it is accused of using the cryptocurrency mixing service for money laundering. Peirce believes that privacy protection technologies and autonomous hosting rights should be protected, and developers should not be held responsible for the software usage behavior of others. It is futile to demand that open source agreements comply with financial regulatory measures. Peirce also pointed out that regulatory agencies should not require companies to record trading partners, as the decentralized financial broker rules during the Biden administration attempted to implement this requirement but have since been abolished. In addition, if Storm is convicted or faces up to 40 years in prison, its defense team and industry believe that software developers should not be held responsible for the actions of others. In a similar case, the co-founder of Samourai Wallet has pleaded guilty.