U.S. SEC is now interested in engaging an enterprise-wide data subscription for blockchain ledger data according to the latest reports by the regulator aiming to provide clarity for blockchain companies. In the latest cryptocurrency news, we find out more about the idea of the regulator.
It is widely believed that the U.S. SEC has not really been active enough regarding the regulation of the blockchain sector. However, now, according to the report
“The United States Securities and Exchange Commission…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.”
The U.S. SEC is now getting interested in data on Bitcoin and on the Ethereum blockchains among some of the other leading chains:
“At a minimum, the subscription shall include the Bitcoin and Ethereumblockchains…In addition, the subscription shall include as many as possible of the following blockchains: Bitcoin Cash, Stellar, Zcash, EOS, NEO, and XRP Ledger.”
Congressman Warren Davidson among some of the other lawmakers, truly believes that the United States should create improved guidelines so that other companies can begin adhering to the new regulations. For example, Minnesota Congressman Tim Emmer stated that he believes the blockchain might be essential to making sure that the United States stays in advantage over other countries regarding the technology. He pointed out that blockchains might change the way people live immensely by saying:
“This stuff has the potential to completely decentralize the way we live and make the individual central to the way they live their life.”
As recently reported in the coming altcoin news, the criticism comes from people from the U.S. SEC itself. The Commissioner Hester Pierce named the ‘’Crypto Mom’’ pointed out that the regulatory agency’s attitude towards Blockchain was at a very unsatisfying level. She described the agency as ‘’old’’ and stated that the regulator has not been ‘’historically great with innovation.’’ The fact that the SEC wants some more information about the blockchain sector could be a major bullish sign. This should not surprise you since the International Data Corporation study showed that the government spending on blockchain will increase significantly in the next few years.
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