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SEC looks for data service provider to help them monitor blockchain users

Legal

www.chepicap.com 06 July 2019 09:00, UTC
  
Reading time: ~2 m

The US SEC is looking for blockchain data service that could help them monitor the subscribers of ledger data on various blockchain networks. 

The Securities and Exchanges Commission (SEC) continues to try “disrupting” the blockchain and cryptocurrency, this time by trying to monitor enterprise-wide blockchain ledger data subscribers.

The agency is requesting a quote for blockhain data service that could help them in their efforts to what they claim as "monitor risk".

In more details, as mentioned on FedBizOpps.gov, “The United States Securities and Exchange Commission…intends to procure a commercially available off-the-shelf (COTS) enterprise-wide data subscription for blockchain ledger data to support its efforts to monitor risk, improve compliance, and inform Commission policy with respect to digital assets.”

The regulatory body that hasn’t come up with any clear crypto regulations yet so far is reported to be interested in the data on several blockchains, such as Bitcoin, Ethereum, Bitcoin Cash, Stellar ZCash, EOS, NEO and XRP, as reported by CCN.

Even its own commissioner, Hester Peirce, who’s known as Crypto Mom in the crypto community has been criticizing the agency multiple times for their unfriendly and unclear approach to blockchain, particularly cryptocurrency.

On her last criticism she said that the SEC is still smothering ETFs with personalized attention as if they were infants.


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