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🧨 American Regulator Will Start Tracking Smart Contracts

American regulator will start tracking smart contracts

American regulator will start tracking smart contracts
CONTENT

  • SEC wants to start tracking smart contacts across all networks

  • To apply, the authorized capital of the company must be $ 30 million

  • Large blockchain companies have been selling analytical tools for a long time

International consortium of news organizations developing transparency standards.

US authorities intend to keep the entire cryptocurrency industry under a hood, according to recently published tenders

American regulator will start tracking smart contracts

The US Securities and Exchange Commission (SEC) has published a tender for the development of a tool for tracking smart contract transactions.

According to the tender published on the website of the Small Business Administration, the regulator accepts proposals to create a monitoring tool until August 13 this year..

The tool should include the following functionality:

  • Smart contract task;
  • American regulator will start tracking smart contracts
  • Characteristics of the sale of tokens or coins;
  • Restrictions on buying and / or selling;
  • Authorized and blocked addresses;
  • Smart contract access privileges.

All networks in one basket

The regulator intends to analyze contracts based on a distributed ledger, blockchain and other decentralized networks to monitor risks associated with digital assets, according to the tender..

To submit an application, the authorized capital of the company must be $ 30 million.

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The SEC’s desire to keep the blockchain industry under wraps comes just a couple of weeks after the IRS entered into an agreement with the US cryptocurrency exchange Coinbase to use the exchange’s software to track transactions on blockchain networks..

Compliance with standards

Earlier, the American regulator entered into an agreement with the analytical blockchain company CipherTrace to track transactions on the Binance Chain blockchain network, developed by the Binance cryptocurrency exchange..

At the time, the SEC stated that CipherTrace is the only known candidate capable of tracking the activity of the Binance Coin (BNB) asset and all other tokens on the Binance Chain..

The cryptocurrency tracking trend is by no means new. In addition to regulators, blockchain operations have long been monitored by cryptocurrency technology companies themselves to meet anti-money laundering requirements..

In early June, for example, the Ethereum incubator ConsenSys announced the launch of an automated service to track transactions on the Ethereum network and ensure legal compliance in the field of decentralized finance (DeFi) Decentralized finance (DeFi) is a financial services built on the basis of blockchain technology that offer users access to to open, efficient and … More).

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