The United States Securities and Exchange Commission has released the official agenda for its highly anticipated December 15 roundtable on financial surveillance and privacy, sparking broad industry interest as leading voices from the cryptography, digital rights and blockchain communities prepare to engage directly with regulators. The event, structured as an open policy forum, will include speakers from Zcash, StarkWare, Aleo, the American Civil Liberties Union (ACLU) and several academic institutions. financial surveillance policy discussion, SEC privacy roundtable December 15, blockchain privacy regulation debate and Zcash and StarkWare SEC meeting trending across the industry, the forum has quickly become one of the most closely watched regulatory events of the year.
The SEC’s decision to focus an entire roundtable on the intersection of privacy, cryptographic innovation and financial oversight marks a significant moment in the evolution of digital asset regulation. The rapid expansion of blockchain networks, zero-knowledge proof systems and privacy-enhancing technologies has raised complex questions about how regulatory bodies can enforce financial laws without undermining individual rights, economic innovation or constitutional protections. The December 15 event aims to confront these questions directly by bringing together technologists, civil liberties advocates, industry builders and compliance experts in a structured dialogue.
According to the agenda released this week, the roundtable will be divided into themed sessions exploring privacy-preserving technologies, the future of financial surveillance in the digital age, the role of zero-knowledge proofs in regulatory compliance, and the civil rights implications of expanding state-level monitoring tools. Each section is expected to feature a blend of technical analysis, policy perspectives and real-world case studies. zero-knowledge compliance frameworks, financial monitoring risks and privacy protections in digital finance reflect rising public interest in these discussions.
One of the headline participants is Zcash, a project widely considered a pioneer in cryptocurrency privacy. Representatives from the Zcash Foundation and Electric Coin Company are expected to discuss how advanced cryptographic tools, such as shielded transactions, can coexist with regulatory oversight. Zcash engineers have been at the forefront of developing zero-knowledge proofs that allow transaction verification without exposing user details, and their input at the roundtable signals the SEC’s willingness to engage deeply with technical realities rather than relying solely on theoretical frameworks.
StarkWare, another key participant, brings experience in scaling and privacy technologies built on STARK proofs. The company has become a leading innovator in cryptographic systems that support high performance, verifiable computation and privacy-preserving execution environments. StarkWare’s inclusion in the roundtable highlights the SEC’s growing recognition of zero-knowledge proof ecosystems as durable components of modern financial infrastructure rather than niche research topics.
Aleo, a platform dedicated to programmable privacy using zero-knowledge proofs, will contribute insights on how privacy-focused smart contract environments can support both innovation and regulatory alignment. Aleo’s developers often emphasize how privacy can be integrated directly into computational layers without undermining compliance requirements. The SEC’s decision to invite Aleo reflects a broader industry trend where programmable privacy is increasingly viewed as a cornerstone of next-generation decentralized applications.
The ACLU’s participation introduces a critical civil liberties dimension, as the organization has consistently raised concerns about expanding governmental surveillance in both digital and traditional financial systems. The ACLU is expected to highlight the constitutional implications of mass financial monitoring, including issues related to due process, Fourth Amendment protections and the risk of discriminatory enforcement. These themes often appear in civil liberties and financial surveillance, privacy rights in blockchain regulation and ACLU stance on digital monitoring.
Other confirmed participants include academics specializing in cryptography, economists studying surveillance incentives and legal scholars analyzing financial privacy frameworks. Their combined perspectives aim to provide regulators with a holistic understanding of how digital asset ecosystems intersect with legal, technological and ethical considerations.
The roundtable comes at a pivotal moment for U.S. regulatory agencies. As blockchain networks continue to expand globally, policymakers face mounting pressure to define clear frameworks that balance innovation with consumer protection and national security concerns. Yet financial surveillance remains one of the most contested areas of regulation. Traditional banking systems rely heavily on centralized monitoring tools, suspicious activity reporting and identity-linked transactions. Privacy-enhancing technologies, by contrast, distribute power across decentralized systems and enable permissionless participation. The result is a fundamental clash of paradigms that regulators must navigate carefully.
The SEC has framed the December 15 event as an opportunity to learn from stakeholders who build, audit and analyze privacy technologies daily. By focusing on dialogue rather than enforcement, the agency is signaling a shift toward collaborative policymaking. This approach mirrors broader global trends where regulators in Europe, Asia and Latin America increasingly consult cryptographic experts before drafting legislation. collaborative crypto regulation, privacy technology consultation and SEC engagement with developers underscores the importance of this shift.
Industry observers expect the roundtable to influence how the SEC and other agencies approach privacy regulations in 2026. Although the SEC does not directly oversee anti-money laundering enforcement that role belongs to FinCEN the agency’s interpretations of securities laws shape how privacy technologies are treated in capital markets. Developers hope the roundtable will clarify that privacy features do not inherently violate securities rules and that zero-knowledge architectures can support compliant ecosystems when implemented responsibly.
The roundtable also comes amid rising public concern about the potential expansion of centralized surveillance tools. Reports of increasing data sharing between financial institutions and government agencies have raised questions about the scope and purpose of financial monitoring. Critics argue that excessive surveillance erodes consumer trust and creates disproportionate risks for marginalized communities. Proponents counter that surveillance is necessary to combat illicit finance and protect national interests. The roundtable will attempt to reconcile these viewpoints by identifying pathways that uphold constitutional values while supporting regulatory effectiveness.
While no formal policy announcements are expected during the event, the discussions will likely set the tone for future rulemaking processes. Regulators may use insights from the roundtable to shape guidance on privacy-enhancing technologies, enforcement boundaries, compliance expectations and developer responsibilities. Industry participants hope the conversations will establish a framework where innovation is not hampered by overly restrictive requirements but supported through constructive oversight.
The SEC’s release of the agenda signals an intention to approach privacy policy with nuance rather than broad generalizations. By gathering experts from Zcash, StarkWare, Aleo, civil liberties groups and academic institutions, the agency is creating a rare platform where regulatory agencies and cryptography pioneers meet on equal footing. Many analysts believe this kind of collaborative structure will be essential as financial markets transition to blockchain-based settlement layers and digital identity systems.
As December 15 approaches, anticipation continues to build across the crypto and regulatory communities. The roundtable represents not just a policy event but a crucial moment in the ongoing debate over the future of financial privacy in a digital world. Whether the discussions lead to more supportive regulation or stricter oversight will depend on how regulators interpret the insights shared by participants, but the event marks a clear acknowledgement that privacy in blockchain systems is no longer a fringe issue it is central to the future of financial technology.
The agenda itself reflects the complexity of that future. By placing innovation, surveillance and civil liberties in a shared conversation, the SEC is elevating the discourse around what kind of financial system the United States intends to build. The December 15 roundtable may not resolve these questions immediately, but it will shape how they are asked and eventually, how they are answered.
FAQs
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What is the purpose of the SEC’s December 15 roundtable?
The event aims to examine the intersection of financial surveillance, blockchain privacy technologies and regulatory frameworks, bringing together experts from industry and civil liberties organizations. -
Which organizations will participate in the roundtable?
Speakers include representatives from Zcash, StarkWare, Aleo, the ACLU and multiple academic institutions specializing in cryptography and financial law. -
Why is the SEC focusing on privacy and surveillance now?
Growing adoption of blockchain and zero-knowledge technologies has created new regulatory challenges related to transparency, innovation and consumer protection. -
Will the roundtable lead to new regulations?
No immediate rules are expected, but the discussion will likely influence future guidance and regulatory approaches in 2026. -
How could this event impact digital asset developers?
Developers may gain clearer expectations around compliance, privacy design standards and how zero-knowledge technologies fit within U.S. financial regulations.