Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

2025-05-19

Ethereum – price cannot break through – what does it stop?

2025-05-19

How to stimulate your PI network extraction rate with 26x in 2025 – Key Strategy

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Sentismai integrates Kyberswap for seamless EVM -Kettingwaps

    2025-05-19

    Alchemie acquires Solana developer Dexterlab for unknown sum

    2025-05-19

    Interlink and Blazpay Partner to improve the user experience in Web3 with AI

    2025-05-19

    Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

    2025-05-19

    Jesse Pollak explains how Pectra Upgrade will overload the basic network

    2025-05-18
  • NFT

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16

    Founder wallet emptied while he leaves

    2025-05-15
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Ethereum – price cannot break through – what does it stop?

    2025-05-19

    Dogecoin (Doge) is struggling to support profit while Meme Coin cools Mania

    2025-05-19

    Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

    2025-05-19

    XRP – Price is struggling to keep the ground – breakdown or breathing break?

    2025-05-19

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»The blockchain industry is pushing back against the SEC’s sweeping audit trail regulations
Crypto groups sue SEC, claiming overreach in new dealer rule definition
Regulation

The blockchain industry is pushing back against the SEC’s sweeping audit trail regulations

2024-08-23No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The DeFi Education Fund and the Blockchain Association have filed an amicus brief in support of a legal challenge to the Securities and Exchange Commission’s (SEC) Consolidated Audit Trail (CAT).

The letter highlighted the significant privacy and security concerns posed by the CAT, particularly for participants in the digital asset market, and argued that it could potentially compromise financial privacy.

The two organizations previously filed similar briefs challenging various regulatory issues, including the removal of airdrops from the SEC’s securities classification.

Consolidated audit trail

The CAT, operational since April, represents the largest government-mandated collection of personal financial data in U.S. history. The goal is to create a centralized database that tracks all securities transactions in the US markets.

This database would be accessible to SEC regulators and thousands of private employees without a warrant or probable cause. Critics argue that this level of access poses significant privacy concerns, especially in the context of increasingly sensitive financial data.

The NCLA, which filed the lawsuit in April, argues that the SEC overstepped its regulatory authority by creating the CAT. The case has generated more than 50 amicus curiae reports, reflecting widespread concerns across the financial and crypto sectors.

Unique risks

The letter states that the CAT poses unique risks to digital asset transactions. The SEC’s position that many digital asset market participants qualify as exchanges, brokers or dealers could subject these entities to the CAT’s extensive reporting requirements.

This could lead to the linking of personally identifiable information to blockchain wallet addresses, exposing users’ transaction histories to unprecedented scrutiny. Such a prospect has raised alarms about the potential overreach and erosion of financial privacy.

See also  Mark Cuban slams OpenSea's optional NFT royalties as industry misstep

Laura Sanders, policy advisor at the Blockchain Association, highlighted the broader implications of the CAT, stating:

“The CAT program’s sweeping surveillance of personal financial data, including potentially sensitive blockchain transactions, is a significant overreach that threatens to normalize invasive government surveillance.”

Furthermore, the broad scope of the CAT also poses significant safety concerns. With sensitive data from millions of transactions centralized in one database, the CAT could become a prime target for cyber attacks.

This risk is compounded by the number of individuals who have access to the system, further increasing fears of data breaches that could compromise both traditional financial data and blockchain transaction data.

Latest Alpha Market report

Source link

Audit Blockchain industry Pushing Regulations SECs Sweeping trail
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump administration to beat bank rules designed to prevent collapse in 2008 style: report

2025-05-19

Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

2025-05-19

Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

2025-05-18

Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

2025-05-18
Add A Comment

Comments are closed.

Top Posts

Bitcoin price gradually slips: can bulls keep important support?

2025-02-10

Bitcoin’s Full Potential – Are We In The Middle Of It?

2024-03-08

NFT Paris founder says brands are ‘fully embracing’ NFTs

2023-10-31
Editors Picks

Reserve extends the stablecoin protocol to Coinbase’s Base network

2023-10-11

Solana Labs unveils GameShift, a web3 suite for game developers

2023-11-01

LSK’s Whale vs Retail Delta touches extreme low: watch out for these levels

2025-02-10

Kyberswap integrates almost intentions to make seamless cross-chain asset swaps possible

2025-03-08
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

Ethereum – price cannot break through – what does it stop?

How to stimulate your PI network extraction rate with 26x in 2025 – Key Strategy

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$105,362.45-0.46%
  • ethereumEthereum(ETH)$2,508.53-2.61%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.36-3.03%
  • binancecoinBNB(BNB)$647.07-1.02%
  • solanaSolana(SOL)$165.70-5.77%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.223486-5.39%
  • cardanoCardano(ADA)$0.74-4.04%
  • tronTRON(TRX)$0.265482-2.31%
  • suiSui(SUI)$3.81-4.09%
  • chainlinkChainlink(LINK)$15.65-3.84%
  • avalanche-2Avalanche(AVAX)$22.38-4.94%
  • stellarStellar(XLM)$0.285643-3.45%
  • hyperliquidHyperliquid(HYPE)$26.17-2.23%
  • shiba-inuShiba Inu(SHIB)$0.000015-4.73%
  • hedera-hashgraphHedera(HBAR)$0.192691-3.33%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-0.77%
  • bitcoin-cashBitcoin Cash(BCH)$389.36-4.28%
  • litecoinLitecoin(LTC)$98.56-3.27%
  • the-open-networkToncoin(TON)$3.00-5.73%
  • polkadotPolkadot(DOT)$4.61-5.70%
  • moneroMonero(XMR)$342.810.24%
  • bitget-tokenBitget Token(BGB)$5.16-1.09%
  • pepePepe(PEPE)$0.000013-5.83%
  • daiDai(DAI)$1.000.02%
  • piPi(PI)$0.73-3.06%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$5.98-5.16%
  • bittensorBittensor(TAO)$410.01-6.30%
  • aaveAave(AAVE)$233.90-3.74%
  • nearNEAR Protocol(NEAR)$2.78-5.20%
  • aptosAptos(APT)$5.16-2.61%
  • okbOKB(OKB)$52.25-2.43%
  • ondo-financeOndo(ONDO)$0.93-5.02%
  • kaspaKaspa(KAS)$0.107634-8.32%
  • ethereum-classicEthereum Classic(ETC)$18.38-3.20%
  • internet-computerInternet Computer(ICP)$5.23-3.79%
  • gatechain-tokenGateToken(GT)$21.39-1.79%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.85-4.43%
  • crypto-com-chainCronos(CRO)$0.096252-4.49%
  • mantleMantle(MNT)$0.73-1.67%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.233896-4.06%
  • vechainVeChain(VET)$0.028123-4.16%
  • render-tokenRender(RENDER)$4.59-4.73%
  • ethenaEthena(ENA)$0.366971-8.82%
  • usd1World Liberty Financial USD(USD1)$1.00-0.03%
  • filecoinFilecoin(FIL)$2.88-3.01%
  • algorandAlgorand(ALGO)$0.221938-3.38%
  • arbitrumArbitrum(ARB)$0.387690-4.19%
  • bitcoinBitcoin(BTC)$105,362.45-0.46%
  • ethereumEthereum(ETH)$2,508.53-2.61%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.36-3.03%
  • binancecoinBNB(BNB)$647.07-1.02%
  • solanaSolana(SOL)$165.70-5.77%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.223486-5.39%
  • cardanoCardano(ADA)$0.74-4.04%
  • tronTRON(TRX)$0.265482-2.31%
  • suiSui(SUI)$3.81-4.09%
  • chainlinkChainlink(LINK)$15.65-3.84%
  • avalanche-2Avalanche(AVAX)$22.38-4.94%
  • stellarStellar(XLM)$0.285643-3.45%
  • hyperliquidHyperliquid(HYPE)$26.17-2.23%
  • shiba-inuShiba Inu(SHIB)$0.000015-4.73%
  • hedera-hashgraphHedera(HBAR)$0.192691-3.33%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-0.77%
  • bitcoin-cashBitcoin Cash(BCH)$389.36-4.28%
  • litecoinLitecoin(LTC)$98.56-3.27%
  • the-open-networkToncoin(TON)$3.00-5.73%
  • polkadotPolkadot(DOT)$4.61-5.70%
  • moneroMonero(XMR)$342.810.24%
  • bitget-tokenBitget Token(BGB)$5.16-1.09%
  • pepePepe(PEPE)$0.000013-5.83%
  • daiDai(DAI)$1.000.02%
  • piPi(PI)$0.73-3.06%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$5.98-5.16%
  • bittensorBittensor(TAO)$410.01-6.30%
  • aaveAave(AAVE)$233.90-3.74%
  • nearNEAR Protocol(NEAR)$2.78-5.20%
  • aptosAptos(APT)$5.16-2.61%
  • okbOKB(OKB)$52.25-2.43%
  • ondo-financeOndo(ONDO)$0.93-5.02%
  • kaspaKaspa(KAS)$0.107634-8.32%
  • ethereum-classicEthereum Classic(ETC)$18.38-3.20%
  • internet-computerInternet Computer(ICP)$5.23-3.79%
  • gatechain-tokenGateToken(GT)$21.39-1.79%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.85-4.43%
  • crypto-com-chainCronos(CRO)$0.096252-4.49%
  • mantleMantle(MNT)$0.73-1.67%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.233896-4.06%
  • vechainVeChain(VET)$0.028123-4.16%
  • render-tokenRender(RENDER)$4.59-4.73%
  • ethenaEthena(ENA)$0.366971-8.82%
  • usd1World Liberty Financial USD(USD1)$1.00-0.03%
  • filecoinFilecoin(FIL)$2.88-3.01%
  • algorandAlgorand(ALGO)$0.221938-3.38%
  • arbitrumArbitrum(ARB)$0.387690-4.19%