A recent roundtable on "Financial Surveillance and Privacy" held at the SEC headquarters has become a turning point for the privacy coin market.

Zcash founder Zooko Wilcox directly stated on the scene: "Privacy is a right granted by the U.S. Constitution, and everyone has the right to decide how much information they are willing to share." His words were impactful, and he didn't just stay at the theoretical level — he directly demonstrated the Zashi wallet in real-time, showcasing ZEC's selective privacy mechanism clearly.

This shift carries significant meaning. Looking back at ZEC's regulatory journey, from being subpoenaed and questioned by the SEC in the early days to being invited to speak on stage now, what has changed? Essentially, the market and regulatory authorities' understanding of privacy coins is gradually adjusting. ZEC hasn't become discouraged due to regulatory pressure; instead, it has continuously iterated on technology and applications.

This also challenges an old notion: are privacy and compliance really incompatible? ZEC's practice offers another possibility — through its selective privacy design, users can flexibly choose whether to enable privacy protection, satisfying personal privacy rights while also leaving room for regulatory oversight.

Of course, ZEC's story is still being written. But this change in the SEC's attitude indeed shows that efforts by privacy coins to explore within a compliant framework are being recognized.