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Regulation

The SEC is looking for a blockchain analysis tool

February 4, 2019, 7:13AM EDT

The U.S. Securities and Exchange Commission (SEC) is publicly looking for a tool that would provide blockchain analysis data of the most widely used cryptocurrencies in order to monitor risk, improve compliance, and inform the policy with respect to digital assets.

One of the required abilities of the tool is a "capability to derive insights from the available data, including attribution data (i.e. to whom a particular address belongs)." The U.S. government have previously worked with multiple blockchain analysis companies including Chainalysis, Elliptic and CipherTrace. Most of the blockchain analysis tools still seem to be limited mainly to analyzing Bitcoin's blockchain while the SEC is looking for an analysis of "the most widely used blockchain ledgers."