UK Markets open in 5 hrs 47 mins

SEC Launches Search for Blockchain Data Service to Help ‘Monitor Risk’

The U.S. Securities and Exchange Commission is pursuing a blockchain data subscription to help the agency to
The U.S. Securities and Exchange Commission is pursuing a blockchain data subscription to help the agency to

The U.S. SEC has taken some steps to provide clarity to blockchain companies, but it’s widely believed that the agency has not been active enough with respect to providing regulation. Now the securities regulator is apparently interested in engaging an “enterprise-wide data subscription for blockchain ledger data.”

According to the notice 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 SEC is interested in data on the Bitcoin and Ethereum blockchains, among other leading chains, according to the Request for Quote:

“At a minimum, the subscription shall include the Bitcoin and Ethereum blockchains…In addition, the subscription shall include as many as possible of the following blockchains: Bitcoin Cash, Stellar, Zcash, EOS, NEO, and XRP Ledger.”

Is Time Running Out for the U.S. on the Blockchain?

Congressman Warren Davidson, among other lawmakers, believes that the U.S. should come up with clearer guidelines so that companies can begin adhering to the new regulations. In fact, Minnesota Congressman Tim Emmer believes that the blockchain might be essential to making sure that the U.S. stays ahead of other countries technologically. He points out that blockchain may dramatically change the way that people live, previously stating:

This stuff has the potential to completely decentralize the way we live and make the individual central to the way they live their life.”

Read the full story on CCN.com.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting