SEC seeks to block blockchain? First they are looking to contract a data monitoring company

  • Editors
  • July 9, 2019
  • Comments Off on SEC seeks to block blockchain? First they are looking to contract a data monitoring company

The United States Securities and Exchange Commission (SEC), on 100 F Street, NE, Washington, DC seeks to contract blockchain data monitoring company.

“Searching for a company that would help them monitor blockchain data to reduce potential risks,” according to the official SEC notification on the Federal website states. 
 
SEC “intends to procure a commercially available off-the-shelf (COTS) enterprise-wide data subscription for blockchain ledger data to support its efforts to monitor risk, improve compliance, and inform Commission policy with respect to digital assets.” 
According to bitcoinwarrior.net “the minimum requirement for procurement of the solutions includes monitory subscription of Bitcoin and Ethereum blockchains. Though, the notification also seeks subscription on Bitcoin Cash (BCH), Zcash, EOS, Stellar (XLM), NEO and Ripple (XRP) blockchain ledgers.”
 

Some see this a good guidance due to the huge market cap ($200B) but we are a bit skeptical in the context of Libra (Facebook). There is a debate over the fact that Libra is in fact a disrupter and a great enemy of traditional banking. Banks say they are, but analyst do not believe it. Libra is a stable coin and a centralised bank and it might actually be a spearhead for the traditional banking.

Assuming the SEC is looking from the same perspective at the market as the analysts, this monitoring will provide more obstacles to Bitcoin or Etherium but not to Libra.

We will live to see more on this topic.