Official announcements from the SEC

Blockchain, DeFi Groups Challenge SEC's Audit Trail Over Privacy Concerns

Aug 23, 2024, 04:16 PM

The Blockchain Association and the DeFi Education Fund have filed an amicus brief challenging the U.S. Securities and Exchange Commission's (SEC) Consolidated Audit Trail (CAT) program. The brief argues that the CAT, particularly in the context of the digital asset sector, raises significant privacy concerns and undermines personal freedom. The CAT is designed to track investor activities, including those in the cryptocurrency market, which has led to concerns about the potential exposure of crypto wallet holders. The challenge has garnered significant attention, with over 50 filings against the SEC's initiative, as the blockchain industry pushes back against what they perceive as an invasive regulatory measure.