The United States Securities and Exchange Commission (SEC) is seeking sources that can provide blockchain data to support its efforts on ensuring compliance and risk monitoring of digital assets, and ways to identify the owners of wallet addresses for multiple 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 report reads.
The SEC has issued a ‘sources sought notice’ on January 31, searching for companies that can provide blockchain data to support its efforts to monitor risk and improve compliance of digital assets.
The data from the Blockchain will be able to assist in the determination of crypto ownership. This would be useful for determining a crypto token from a security token, as the SEC has stated that the more Decentralised it is and the more distributed the ownership, the less likely it will be security.
All responses from the SEC is expected to be released around the 14th of February in order to see the follow-ups of the SEC on the crypto industry.
There has been information regarding the exerted jurisdiction over Initial Coin Offerings(ICOs) and has thus designated two cryptocurrencies as being non-securities, which is Ethereum and Bitcoin.