(https://cryptocartel.club/files/global/1024x683%20SEC%20btc%20ETF.jpg)
While investors expect bitcoin-ETF approval, us financial regulators are keen to make the market more transparent. The securities and exchange Commission (SEC) is looking for a tool that identifies a wallet address owner for multiple cryptocurrencies.
The SEC released a "sourcing notice" on January 31 to attract companies that can provide blockchain data to support the Agency's efforts to monitor risks and improve compliance of digital assets.
The regulator is looking for an opportunity to use the service to collect data on "the most widely used blockchain registries, including a set of available information and transaction details." The desired sources must provide the SEC the opportunity to receive information from the public data, including "data attribution", i.e. who owns the specific address.
Additional required features of the SEC include regular provision of data extracts for the most widely used digital assets based on transaction volume; data cleaning and normalization to enable viewing and exploration of them; and the means to demonstrate the data must be accurate and complete. Essentially, the SEC wants to get a verification method that the Agency can use to ensure there is no data loss due to processes designed to make the information easy to read.
Steps to enact a bitcoin ETF?
The SEC is also looking for information on which of the most popular digital asset data can be provided, the data exchange and transfer options, the processes and tools used to aggregate and compile the data, and other metrics mentioned in the document. Companies wishing to submit their services must provide an estimate of the cost of permanent access or subscription to the requested data and must respond to the notification by 14 February 2019.
Read on: the head of Pantera Capital: institutional money will come to the crypto market in 6-9 months
The us securities regulator has recently been the focus of attention from institutional investors, as its approval is necessary for us financial companies to offer bitcoin ETFs. Perhaps the description of the monitoring sought by the SEC, explains the transparency sought by the regulator before giving the green light for the hotly anticipated derivative.
LINK - https://altstake.io/news/sec-hochetidentificirovaty-vladelycev-kripto-koshelykov