SEC intends to study the data blockchain leading cryptocurrency

According to an official announcement on the website of the US Securities and Exchange Commission (SEC), the agency is looking for a supplier who can provide him with the opportunity to analyze blockchain data of leading cryptocurrencies, Coingape reports.

The application was published on January 31, and according to it, the opportunity is open to companies that will extract data from blockchains and translate them into readable format.

The Commission’s report states that it needs this data “to support efforts to monitor risks, improve legal compliance and gather information for policymaking in the field of digital assets”.

It is also noted that information on potential data sources should be from the most widely used blockchain systems and include publicly available data and transaction details. In addition, the tenderers must ensure the possibility of data verification, guaranteeing their integrity and accuracy.

Applications for participation in the competition are accepted until February 14, but it is not specified how the Commission plans to use the information received. It is not excluded that it can help the Office to better understand the features of certain projects when making decisions about the classification of coins or tokens by securities.

In addition, in November last year, the head of the SEC, Jay Clayton, said that he did not see the possibility of approving a cryptocurrency-based ETF until the problem of market manipulations was solved.