US SEC announced tender for “major data tool” to measure cryptocurrencies

February 05, 2019
Chris Wheal

Just a few weeks after the United States Securities and Exchange Commission (SEC) has announced research of crypto as “their top priority” for 2019, they have moved from words to action. A few days ago, they have published an announcement of a tender, in order to find out the proper provider of a tool “for big data processing” across major blockchains.

bitcoin graphic

According to SEC, they’re open to work with both small and large businesses. The main criteria for their contractors is to be able to provide the view of a data on the “most widely used” blockchain ledgers, based on the transaction volume. The goal of hiring such contractor for the SEC is to “monitor risk and improve compliance” in the cryptocurrency industry regulation.

Everyone who’s interested to apply for this “job” with the U.S. federal government has to present their data tool in an “easily reviewable format,” and to provide an overview of how the information is extracted. The agency emphasizes that the data tool has to ensure “there is no loss or change in data” due to the transferring process.

All interested vendors should respond to SEC until February 14, 2019. The address and the primary contact information can be found here.

During the research into cryptocurrencies the SEC has prioritized for this year, the agency is expecting to resolve any and all matters concerning custody control and safekeeping of investor assets, as well as valuation and risks of “dramatic volatility,” along with “misleading disclosures.”

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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