US SEC Commission will launch its own blockchain nodes of popular cryptocurrencies
US SEC Commission will launch its own blockchain nodes of popular cryptocurrencies
The US Securities and Exchange Commission (SEC) plans to launch several Bitcoin and Ethereum nodes, as well as "as many of the other blockchains as possible: Bitcoin Cash, Stellar, Zcash, EOS, NEO and XRP Ledger."
The goal of this step is to monitor any risks, comply with regulatory requirements and inform policy on digital assets.
The management of the node will not be carried out directly by SEC employees, this will be done by an external organization, which will be tasked with launching the node for each supported blockchain.
Data will be provided to the SEC, it will include the cryptocurrency symbol, send and receive addresses, unspent balances, hashes, timestamps and transaction amounts, commissions, confirmations, etc.
In addition, they will cover hashing algorithms, hash rate, mining complexity, rewards, the number and size of transactions, tokens in circulation and the size of the blockchain.
It is believed that this SEC project is associated with direct and indirect access to blockchain data, since today this data is obtained from secondary sources, such as blockchain browsers.
It is believed that the SEC seeks to implement surveillance systems on these blockchains in order to control what happens to them. Being open and decentralized networks, anyone can create a node, including government.
Another hypothesis is that the SEC wants to research tokenized securities, even if they have not yet been marketed as such.
In fact, the agency’s mission is to enforce US securities laws, including market trading, so this may be the true goal of this initiative.
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