🚫 Blockchain industry joins forces to resist SEC's new audit tracking rules

👥 The blockchain industry has been very busy recently, especially the DeFi Education Fund and the Blockchain Association, who jointly submitted a statement to the court to support a legal challenge to the U.S. Securities and Exchange Commission's (SEC) Comprehensive Audit Tracking (CAT) system.

🔍 The statement directly points out the privacy and security risks that the CAT system may bring to digital asset transactions, and believes that this product may infringe on financial privacy. This is not the first time they have spoken out on regulatory issues. They have also submitted briefs to remove airdrops from the SEC's securities classification.

📊 The CAT system has been in operation since April and is known as the largest government-authorized personal financial data collection project in U.S. history. Simply put, the SEC wants to create a super-large database to track all securities transactions in the U.S. market.

👀 But the problem is that SEC regulators and a large number of private staff can access this database without authorization or justification. This makes many people worry that this will infringe on our privacy?

📜 So, NCLA filed a lawsuit in April, arguing that the SEC had overstepped its authority by setting up the CAT system. Now, there are more than 50 amicus briefs supporting the lawsuit, showing widespread concerns about the system in the financial and cryptocurrency industries.

🔑 The statement mentioned that the CAT system is particularly dangerous to digital asset traders because it can cause personal identification information to be linked to blockchain wallet addresses, exposing users' transaction histories to unprecedented scrutiny.

💻 Laura Sanders of the Blockchain Association warned that CAT's comprehensive monitoring of personal financial data, including potentially sensitive blockchain transactions, could make intrusive government oversight the norm.

🔒 At the same time, the large amount of sensitive data stored in a single database would make CAT an attractive target for cyber hackers. Because the more people who have access to the system, the greater the risk of data leakage.

👇 What do you think of the SEC's CAT system? Can the blockchain industry successfully resist this system this time? See you in the comments!

🔗 #区块链抵制 #SEC审计追踪 #数字资产隐私 #金融安全 #行业担忧