🗣️Blockchain Association, DeFi Education Fund warn of privacy concerns
The Blockchain Association and the DeFi Education Fund have raised concerns that the SEC's Consolidated Audit Trail (CAT) database could compromise privacy for millions, including those involved in digital assets.
•The SEC adopted Rule 613 following the 2012 financial crisis, requiring national securities exchanges and the Financial Industry Regulatory Authority to maintain a CAT.
•The groups argue that the CAT could deanonymize blockchain transactions, turning blockchains into a searchable repository for the government and potentially exposing a user's entire transaction history without a warrant.
•They add that the CAT database, which collects personally identifiable information, poses significant privacy risks and could be vulnerable to data breaches.
