SEC's Peirce Backs Lighter KYC as Brazil Mandates Reporting Above $10,000
- —Peirce proposed using ZK proofs to satisfy KYC and AML checks with less data exposure
- —Her position is a commissioner's view, not an SEC rule or formal rulemaking
- —Brazil now requires reporting of self-custody crypto transfers above $10,000
- —The Brazilian mandate is already in force and extends oversight beyond exchanges
Why it matters: The US is only debating lighter KYC while Brazil has already extended reporting to self-custody wallets, highlighting a widening regulatory split.
Source: Bitcoin Insider