Share this article
US SEC Seeking Big Data Tool for Major Blockchains
The U.S. Securities and Exchange Commission is seeking vendors to provide detailed blockchain data in order to improve crypto compliance.
Updated Sep 13, 2021, 8:51 a.m. Published Feb 4, 2019, 9:00 a.m.
Make us preferred on Google
The U.S. Securities and Exchange Commission (SEC) is seeking a tool to provide a Big Data view across major blockchains.
In a solicitation notice published Thursday, the regulator said it is looking for both small and large businesses who can provide data for the "most widely used" blockchain ledgers based on transaction volume, in order to "monitor risk and improve compliance" related to cryptocurrencies.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The SEC said it requires the data in an “easily reviewable” format, along with an overview of how the information is extracted and converted to ensure “there is no loss in data completeness and accuracy due to the data transformation tools and processes applied.” Notably, the agency is seeking to identify transaction details among "the universe of available information."
Interested vendors should respond to the SEC by Feb. 14, according to the announcement.
The news comes soon after the SEC said that digital assets or cryptocurrencies will be one of its examination priorities this year, including “concerns related to custody and safekeeping of investor assets, valuation, omitted or misleading disclosures regarding the complexities of the products and technology, and the risks of dramatic price volatility.”
Last October, it set up the Strategic Hub for Innovation and Financial Technology (FinHub) to enable fintech startups, including those launching initial coin offerings (ICOs), to navigate the legal implications of their products.
The commission has also said it soon plans to release “plain English” guidance on when and how cryptocurrencies may be classified as securities to help developers determine on their own for any potential token offering.
Another top U.S. regulator, the Commodity Futures Trading Commission (CFTC), said it was looking to learn more about ethereum in December, ranging from its technology to how it’s used, in order to ensure compliance of derivatives markets based on the cryptocurrency.
U.S. SEC image via Shutterstock
Lebih untuk Anda
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
Yang perlu diketahui:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
Lebih untuk Anda
Rollercoaster bitcoin price moves end up liquidating $1.7 billion in bullish crypto bets
More than $1.7 billion in leveraged positions were liquidated in 24 hours as bitcoin fell to $81,000, with long bets accounting for nearly all the damage amid macro jitters and Fed chair speculation.
Yang perlu diketahui:
- More than $1.68 billion in leveraged crypto positions were liquidated in 24 hours, with about 267,000 traders forced out of trades.
- Long positions accounted for nearly 93 percent of the wipeout, led by roughly $780 million in bitcoin and $414 million in ether liquidations.
- Analysts say the sell-off was driven less by new bearish sentiment than by overcrowded leverage unwinding, flushing out speculative excess and reducing forced flows in the market.
Top Stories
