As the crypto world awaits a landmark verdict in the Tornado Cash case, SEC Commissioner Hester Peirce has taken a bold stand in defense of financial privacy. According to her, developers of open-source privacy software should not be held accountable for how others use their code.
“It’s time to recognize that the right to privately transfer value is as fundamental as freedom of speech,” Peirce stated during her speech at the Science of Blockchain conference.
Her remarks come as the trial of Roman Storm — co-founder of Tornado Cash — nears its conclusion. Storm faces charges of aiding money laundering through the use of a cryptocurrency mixer.
🔐 Privacy ≠ Crime
Peirce emphasized that privacy-preserving technologies are crucial to individual freedom. She compared the current climate to the 1990s, when governments sought to restrict public access to strong encryption. That battle, she noted, was ultimately won thanks to cryptographers like Phil Zimmermann, the creator of Pretty Good Privacy (PGP).
“Just like back then, today we stand at a crossroads — we either protect the right to private digital transactions or open the door to mass surveillance,” she warned.
⚖️ Developers vs. Regulation
Peirce strongly criticized proposals that would force DeFi platforms to monitor their users.
“Requiring intermediaries to spy on their neighbors is fundamentally incompatible with a free society,” she said. “Technologies with legitimate uses must remain permissionless and accessible to everyone — even if they can be misused. Otherwise, we risk undermining the very foundations of liberty.”
Tornado Cash has become a symbol of this struggle. The defense argues that Storm created a neutral tool — similar to cash or encrypted messaging — that anyone can use. If convicted, he could face up to 40 years in prison.
💬 Peirce’s Final Words
“We must protect people’s ability not only to communicate privately, but also to transfer value privately — just as they could with physical coins when the Fourth Amendment was drafted,” Peirce concluded, referencing the U.S. Constitution’s privacy protections.
As the world waits for the outcome of the Tornado Cash trial, one thing is clear: the battle for digital privacy is only just beginning.
#SEC , #CryptoPrivacy , #TornadoCash , #CryptoNews , #Regulation
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