On September 24, Bitcoin Magazine reported that Hester Peirce, a U.S. SEC commissioner known as 'Crypto Mom', who will be leaving her position in November, urged at the SIFMA Digital Assets Conference in New York for a rethinking of how the financial system is monitored. She advocated for collecting less personal data rather than more. Peirce criticized KYC/AML regulations, stating that the increasing data collection and intermediary monitoring are turning the financial landscape into a 'panopticon prison'. She argued that accumulating data on compliant customers does not help in tracking down criminals; instead, it makes it harder to find the 'needle' in the 'haystack' and increases the risks of data breaches and misuse. She proposed the use of zero-knowledge proofs (ZKP) and attribute-based credentials to verify age, accredited investor status, or whether someone is on a sanctions list without exposing personal information. Additionally, she urged the SEC to allow companies to rely on identity verifications completed by other regulated entities. Peirce identified herself as a 'libertarian' rather than an industry spokesperson.