Privacy versus surveillance: the SEC convenes a crypto roundtable on October 17, 2025

Privacy on-chain and financial surveillance meet in an unprecedented public confrontation: on October 17, 2025, as reported on the official page, the SEC will bring together citizens, experts, and operators in Washington for a public roundtable. The stated goal is to gather useful contributions to guide the next steps of the regulatory framework on digital activities, with particular attention to privacy-preserving tools, transparency, and consumer protection. In this context, the positions of different stakeholders can emerge in a direct and comparable manner.

According to the official statement published on September 8, 2025, the Task Force announced that four additional roundtables will be held in 2025, of which the one on October 17 is a part. Industry analysts note that public consultations of this kind tend to influence regulatory priorities and interpretative drafts within 6–18 months. In my editorial experience in the regulatory sector, post-event materials and SEC transcripts are usually published within a few weeks after the sessions close, making it possible to quickly monitor developments. 

When and Where: Schedule, Venue, and Streaming

The meeting is scheduled for October 17, 2025, from 1:00 PM to 4:00 PM (ET), at the SEC headquarters at 100 F Street, N.E., Washington, D.C. In Italy, the time corresponds to 7:00 PM–10:00 PM (CEST). The session will be open to the public and streamed on the official SEC website, allowing for remote attendance. The event is part of the roundtable series promoted in 2025 by the SEC Crypto Task Force, designed to gather feedback and contributions before potentially defining policy proposals. That said, the listening phase remains central to calibrate priorities and timelines.

Why it matters: potential impact on the regulatory framework

The discussion takes place at a time when regulations on AML/KYC, on‑chain analysis tools, and privacy protection intersect. In the past, approaches heavily focused on surveillance have fueled fears of a “chilling effect” on innovation. An open dialogue, in fact, could promote a balance between investigative needs and fundamental rights, avoiding the encouragement of completely anonymous and non-compliant solutions.

In essence, although not immediately translating into new rules, the outcome of the round table may guide priorities, definitions, and compliance standards that will influence exchanges, wallets, protocols, and developers. It should be noted that the initial setup will have concrete impacts on processes and costs for operators.

Topics on the table: privacy, oversight, and responsibility

According to the official communication, the agenda will include issues of both technical and legal nature with operational relevance. Among the main topics, the following will be discussed:

• Privacy tools: technologies designed to protect user data, from selective auditability to zero-knowledge proofs.
• Financial oversight: defining the boundaries, proportionality, and limits related to monitoring practices to prevent financial abuse and crimes.
• Transparency and protection: methods to ensure sufficient traceability without exposing sensitive information.
• Responsibility of intermediaries: the role of platforms, infrastructure providers, and on-chain analysis services.
• Effects on Innovation and Markets: analysis of the impacts of regulatory choices on the competitiveness of the USA ecosystem.

How to participate or follow the work

In-person access is subject to registration through the SEC portal, while streaming will be available on the institutional website. Official references are indicated on the pages dedicated to the roundtables on the SEC website, allowing for precise tracking of information.

Context and Background

This roundtable is part of a series of public consultations initiated in 2025. In previous similar initiatives, the SEC had developed technical dossiers on informational standards, market supervision, and requirements for registered entities. The uniqueness of this session lies in the explicit focus on the trade‑off between privacy and surveillance, a particularly relevant issue in the on‑chain economy. However, the outcome will also depend on the quality of the contributions collected and their translatability into operational guidelines.

Analysis: where the balance is played

The critical point concerns the scope of traceability. Excessive monitoring could push users towards “privacy-only” tools, reducing collaboration with regulated actors; on the other hand, overly permissive rules could compromise consumer protection and the effectiveness of investigations. Furthermore, the way in which the responsibility of intermediaries is defined will impact compliance costs, market access, and business models.

For example, the adoption of common technical standards (such as logs, attestations, and selective audit protocols) could reduce informational asymmetry and strengthen trust, without hindering innovation. Indeed, such solutions help reconcile enforcement needs with forms of targeted confidentiality.

The Role of the Crypto Task Force

As indicated on the official SEC page, the Crypto Task Force coordinates roundtables and dialogue with stakeholders, also through thematic forums and calls for written contributions. In this context, the Task Force acts as a link between technology and policy, translating technical contributions into regulatory hypotheses and providing a methodological framework for discussion.

Quick FAQ

• Date and time: October 17, 2025, 1:00 PM–4:00 PM (Eastern Time, ET) / 7:00 PM–10:00 PM (Central European Summer Time, CEST).
• Location: SEC, 100 F Street, N.E., Washington, D.C.; the streaming will be available on the official SEC website.
• How to register: the registration form is made available on the official SEC pages dedicated to the roundtables.
• Language: the sessions will be conducted in English; additional details and post-event materials will be published on the SEC website.
• Post-event: at the end of the meetings, the SEC might make materials and summaries available; it is advisable to check institutional links.

What to Expect Next

At the end of the round table, the Commission will gather comments and written contributions, fundamental elements for evaluating potential regulations or interpretative guidelines. It is likely that further consultations, technical analyses, and discussions with the industry will follow before reaching definitive decisions, in line with the gradual approach already tested in 2025.