I initially became aware that "privacy" and "regulated finance" don't have to be mutually exclusive when I observed a straightforward compliance procedure in action. A customer was being onboarded for a private placement by a friend who owns a small investment firm. Nothing interesting, nothing dubious. Only documentation, identification verification, suitability inquiries, and audit trails. The ironic thing is that the money wasn't the most private information. It was the client's identity, their assets, and the confidential terms of the transaction. Regulators still have a clear route to oversight even though those facts are by default safeguarded in traditional markets. Conversely, on the majority of public blockchains, everything is either visible to everyone, @DuskFoundation