On December 15, a meeting that could change the fate of privacy coins is about to take place. This time, the US Securities and Exchange Commission is proactively inviting representatives from the technical side of the crypto community, with the agenda going straight to the core: where should the line be drawn between privacy technology and regulatory boundaries?

The attendee list for this roundtable is quite interesting: Zcash founder Zooko will be present, Aleo’s CEO Koh has also confirmed attendance, and there will be representatives from the American Civil Liberties Union and the Blockchain Association. What does this lineup suggest? It means regulators are not coming to unilaterally declare a verdict; rather, they genuinely want to hear what the tech community has to say.

Looking back at the past year, the privacy track has certainly had a rough time. Tornado Cash developers were arrested, the Samourai wallet was shut down, and the entire privacy technology space has been gasping under regulatory pressure. Now, with the SEC proactively convening this meeting, it reflects a certain reality: pure suppression can't stop technological development, and it’s time to sit down and talk about how to set the rules.

The conflict is actually obvious. The tech side emphasizes that privacy is a fundamental right and that user data should not be arbitrarily monitored; regulators, on the other hand, worry that privacy tools may be used for money laundering or funding illegal activities. Both sides have valid points, but their positions are inherently opposed. This meeting is essentially a test of each side’s bottom line.

For ordinary investors, this timing is quite delicate. Privacy coins like ZEC, XMR, and AZERO have seen a noticeable uptick in interest recently—the market is reacting in advance. But be aware, the outcome of the meeting could go to either extreme: either some kind of compromise is reached, giving privacy technology a compliant space to survive; or the talks break down, leading to a new round of crackdowns.

Personally, I think this meeting is more like a "strategic probe." The SEC doesn't want to completely stifle innovation (after all, the US still wants to maintain a technological edge in crypto), but it also needs to show regulatory presence. The most likely outcome is some form of "limited openness"—for example, requiring privacy technology to integrate selective disclosure mechanisms or setting compliant usage scenarios.

So what should you do now? Keeping a close eye on the news from the 15th is important, but don’t rush to make big bets. You can make small allocations to privacy coin concepts while preparing for both possibilities: increase your position if positive news materializes, or cut losses if negative developments arise. In this kind of policy-driven market, timing is more critical than direction.

The crypto world is shifting from "unregulated growth" to "rule-based competition," and this meeting could be one of the turning points.