Regulators should replace identity checks that collect personal data with digital proofs

This proposal would let financial firms verify required facts about customers through cryptographic proofs instead of repeatedly collecting the underlying personal data. Its scope includes who verifies the original information and which records must still be retained.

From the articleLooking for Change in Haystacks: Remarks before SIFMA’s Digital Assets ConferenceAlso in SEC's Hester Peirce backs zero-knowledge proofs for crypto KYC compliance, SEC's Peirce backs zero-knowledge KYC: what the CIP rule still requires, Vitalik Buterin on crypto regulation, privacy and zero-knowledge proofs, Hester Peirce calls for less KYC data and more cryptographic privacy, SEC’s Peirce Urges Zero-Knowledge Proofs to Reduce KYC Data Collection, In Her Final Weeks, SEC's Peirce Calls for Ending the KYC 'Panopticon' - Decrypt