Blockchain Tools Will Identify The Crypto Wallet Owners- Says U.S SEC

The US SEC are now focused on improving compliance related to digital assets and hence release a sources-sought notice issuance.

The US SEC aka Securities and Exchange Commission is now seeking the companies’ readily available blockchain data. This lets the SEC work on deriving their insights from the accessible and available information. Some of the data involves attribution data which let the SEC know the owner of that particular address and the holder of the belongings.

Back at the closure of January, the document reveals that SEC has issued the sources-sought notice. Moreover, this notice clearly mentions that they are looking out for the firms offering the specific blockchain data. This helps to back and support their efforts in tracking the risk and enhance compliance regarding digital assets. Also, the report reads:

The SEC is seeking information for potential sources to support the goal of acquiring data for the most widely used blockchain ledgers. This includes the universe of available information and transaction details.

They are making an attempt to prepare the cryptocurrency market more transparent, the SEC authority wants to hold the control and ability recognizing the owners of specific wallet addresses, relating multiple cryptocurrencies. This is a facet that might make a majority of cryptocurrency investors feel much uneasy. However, this is the only way which seems suitable as of now.

Meanwhile, the US regulator has never been far away from being a center of attention. Considering the recent incident about Kik, this is a Canadian social media along with a messaging app firm. Eventually, this firm initiates a fight with the SEC in court to stave off laws and regulation of its Kin crypto token.

Moreover, few days earlier, the CBOE authority resubmitted its joint proposal together partnering with VanEck and SolidX to SEC of the U.S. ready for a launch of its first Bitcoin ETF aka Exchange-Traded Fund in this particular country. To be more precise, the SEC has always been closely intertwined with the crypto space.

Will the Blockchain Tool actually identify the wallet owners? What is your opinion? Share your thoughts on our Facebook and Twitter pages.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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