SEC Commissioner Hester Peirce has underscored the agency's focus on tokenization and financial privacy, as reported on October 17. Peirce highlighted the SEC's efforts in drafting legislation with Congress to regulate the digital asset industry, emphasizing token distribution rules and cryptocurrency custody issues. She also advocated for privacy protection, urging a re-evaluation of the Bank Secrecy Act and related AML and KYC regulations. However, the U.S. government's ongoing shutdown has stalled these initiatives, with federal employees on leave and agency operations severely limited. This impasse has temporarily halted progress on regulatory developments in the cryptocurrency sector.