US SEC Seeking Big Data Tool For Major Blockchains (coindesk.com)
The U.S. Securities and Exchange Commission is seeking a tool to provide a Big Data view across major blockchains.
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.
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.”
Another top U.S. regulator, the Commodity Futures Trading Commission, 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.
Original article reduced by: 45%
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Related story: The Crypto-Surveillance Capitalism Connection (coindesk.com)
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