SEC seeks to gather Bitcoin blockchain transaction data

The SEC has been looking for firms to analyze crypto data on the blockchain, their statement reads “The SEC is issuing this notice as a means of conducting market research to determine the availability and technical capacity of large and small businesses to provide blockchain data to support the SEC’s efforts to monitor risk, improve compliance, and information Commission policy with respect to digital assets."



The SEC went on to say that the data from the blockchain will be able to assist in the determination of crypto ownership. This would also be useful for determining a crypto token from a security token, as the more decentralized it is and the more distributed the ownership, the less likely it will be a security. The blockchain analysis capabilities will provide better insights into the crypto economy as this will allow the SEC to make better information and thus better decision making on different aspects that may significantly affect the blockchain growing ecosystem.”