The US Securities and Exchange Commission (SEC) is looking for sources that can provide it with the opportunity to analyze blockchain data of major cryptocurrencies.
"The SEC is seeking information for potential sources to support the goal of acquiring data for the most widely used blockchain ledgers, including the universe of available information and transaction details,” the official notification reads.
The Commission is planning to refine and normalize the obtained data in order to bolster efforts to monitor risks, improve legal compliance and gather information to regulate the digital assets industry.
Along with the required information, like a list of the most-used blockchain ledgers, the potential sources may also provide general public data for each provided blockchain or options for data sharing. Applicants must ensure the possibility of data verification securing their integrity and accuracy.
Applications are accepted until February 14. There is no exact information for what purpose the regulator needs this data. It will obviously help it better understand the specifications of particular projects in order to properly classify coins or tokens as securities. However, some sources believe that this move can be connected with consideration of a bitcoin-ETF application. Specifically, one of the reasons behind the negative decisions on the applications was lack of ability to track transactions, as SEC spokesperson commented earlier.