Bloomberg reports that U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler on December 15 local time said that cryptocurrencies could develop into "the most powerful financial surveillance architecture in history," but also emphasized that regulation should avoid excessive intervention to seek a balance between safety and personal privacy. At the sixth roundtable of the SEC's crypto task force, Gensler pointed out that blockchain technology can efficiently track transactions and senders. If regulatory directions are improper, the government might treat each wallet as a broker and each software as an exchange, turning the crypto ecosystem into a "financial panoramic prison." But he also believes it is still possible to build a regulatory framework that does not sacrifice personal privacy.