Zcash advocates urge the SEC to allow targeted proof of crypto fundraising claims, protecting wallet privacy under proposed disclosure rules.
A Zcash policy group is asking the SEC to let token issuers substantiate their fundraising claims without exposing unrelated wallet activity, giving Chairman Paul Atkins’s earlier financial-privacy arguments a concrete test in the agency’s proposed disclosure regime.
Pretty Good Policy for Zcash (PGPZ) argues in its Oct. 20 submission that evidence should answer the claim investors need checked.
It says proving that a transaction obeyed a network’s rules does not establish how an issuer spent investor money. Accounting records or other financial evidence may still be needed.
Atkins discussed the policy ambition behind this approach in remarks on Dec. 15. He described zero-knowledge proofs, selective disclosure and wallet designs as tools for demonstrating compliance without surrendering an entire financial history.
He also expressly said his views were his own and not necessarily those of the SEC or other commissioners.
PGPZ wants a public account of material holdings and conflicts alongside supporting evidence that does not expose unrelated financial activity, and it asks the SEC to make that approach explicit.
As of Oct. 26, the SEC docket still labels Regulation Crypto Assets a proposed rule, with its October 20 comment deadline now past. The letter’s suggested protections are requests for the final text, rather than an adopted compliance route.
The proposal , issued Aug. 18, would create a startup exemption for offerings of up to $5 million over four years and a fundraising exemption for up to $75 million over 12 months.
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