NIST

The regime itself mandates, pilots or funds privacy-preserving technology.

What NIST actually says

A national agency rather than a global one, included because its output gets adopted internationally as reference material and because it does something no financial regulator has. NIST turns privacy claims into things a supervisor can check. SP 800-226 gives an evaluation method for differential privacy guarantees and names the implementation hazards that make a formally correct deployment leak anyway, which is exactly the gap between claiming a privacy property and demonstrating one. The multi-party threshold cryptography work under the IR 8214 series covers threshold signatures and the MPC constructions used in custody. Whatever position a regulator eventually takes on privacy-enhancing technology in finance, the measurement vocabulary it will use probably comes from here.

What this means for confidential transactions

Bubble is built for exactly this shape of obligation: amounts and balances live on chain as ciphertexts, computation happens without decryption, and the only disclosure path is an on-chain access list through which an authorized party - an auditor, a supervisor, a counterparty - can request scoped decryption. That is confidentiality from the public, not from the regulator.