The US Securities and Exchange Commission (SEC) is after the most widely used blockchain ledgers for ‘an insight’. To make its search easier, the SEC has issued the sources-sought notice which clearly states that the regulatory body is ‘looking for firms offering specific blockchain data’.
The press release says, “the SEC is seeking information for potential sources to support the goal of acquiring data for the most widely used blockchain ledgers. This includes the universe of available information and transaction details.” Moreover, I describes it as a “means of conducting market research to determine the availability and technical capability of large and small businesses to provide blockchain data to support the SEC’s efforts to monitor risk, improve compliance and inform Commission policy with respect to digital assets.” Experts are of the view that the SEC is attempting to make the cryptocurrency market more transparent.
In October 2018, the US Securities and Exchange Commission had launched the Strategic Hub for Innovation and Financial Technology (FinHub) to push the regulatory body’s partaking in fintech-related fields, distributed ledger technology (DLT) and digital assets. Valerie A. Szczepanik, the Senior Advisor for Digital Assets and Innovation and Associate Director in the SEC’s Division of Corporation Finance had said the FinHub will provide a portal for industry and the public to directly engage with SEC. She said the new venture will bring about a clear path for entrepreneurs and developers alike.
SEC Chairman Jay Clayton said the regulatory body is committed to working with investors and market participants. Clayton said they are also open to innovative ideas.