In a landmark discussion at New York’s Bitcoin-themed bar PubKey, SEC Commissioner Hester Peirce delivered a powerful message supporting cryptocurrency privacy rights and permissionless technology. The fireside chat with NYDIG founder Ross Stevens highlighted critical issues facing the digital asset industry in 2025.
Key Takeaways from Peirce’s Address
- Americans have a fundamental right to use crypto mixing services
- Code should continue to be protected as speech
- Bitcoin’s permissionless nature is crucial for freedom
- Current Bank Secrecy Act poses privacy risks
Peirce’s stance on privacy rights comes at a crucial time, as Bitcoin approaches predicted 2025 targets of $250,000, drawing increased regulatory attention to the cryptocurrency sector.
Privacy Rights and Regulatory Balance
The Commissioner emphasized that financial privacy should be a fundamental right, expressing concern over the current lack of privacy protections in the traditional financial system. She specifically addressed the controversial topic of crypto mixers, stating that Americans should have the right to use such privacy-preserving technologies.
The Future of Permissionless Technology
Peirce drew powerful historical parallels, suggesting that Bitcoin could have been a valuable tool for historical freedom fighters like Harriet Tubman. She warned against potential government overreach similar to the 1933 Executive Order 6102, which mandated gold confiscation.
FAQ Section
What is Commissioner Peirce’s stance on crypto mixers?
Peirce explicitly supports Americans’ right to use crypto mixing services, emphasizing the presumption of innocence and importance of privacy-preserving technologies.
How does the SEC view code as speech?
The Commissioner stressed the importance of maintaining code’s protection as speech, warning that requiring government approval before publishing could stifle innovation.
What are the implications for Bitcoin ETFs?
While Peirce indicated that in-kind redemptions for retail investors in spot Bitcoin ETFs remain unlikely, she showed openness to considering future possibilities.
Time to read: 8 minutes
