SEC looks for opportunity to analyze crypto blockchain data

Posted 04 February, 2019

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.

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04 February, 2019 13:52

← Crypto bill reads: Wyoming to consider cryptocurrencies as money from March

On January 31 the authorities of the US State of Wyoming reportedly approved the bill under which the cryptos might be considered as money in the state. All digital assets are classified as "digital consumer assets, digital securities and virtual currencies" with detailed description for each of them. Crypto assets that fall under one of these categories will be considered as intangible personal property, like fiats. The new bill will come into force beginning from March 1.

Crypto bill reads: Wyoming to consider cryptocurrencies as money from March

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04 February, 2019 11:30

Positive labour market reports support US dollar, US Fed officials to make speech this week →

The US dollar stays generally positive at the start of the week. Traders expect some US Fed officials to make statements this week. The US Dollar index improved to some 95.420. At present, the US dollar is getting support from a strong labour report in the USA. Specifically, the figures were above the expected level with new jobs reaching 304,000. For reference, the forecast was set at 165,000. China's financial markets have gone for the Lunar New Year this week.

Positive labour market reports support US dollar, US Fed officials to make speech this week
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