User blog comment:Dopp/Technical Update: April 26, 2011/@comment-52915-20110427150154/@comment-1656630-20110427173312

Actually, yes, you already can. Go into your user preferences, click the "Misc" tab, and select " Don't show points, badges and ranking in my profile page." You won't receive notifications about badges anymore, and they won't show up on your profile.