SEC to Study Leading Blockchains

SEC needs this data to monitor risks, improve compliance and get more info for policymaking
04 February 2019   754

According to an official announcement on the website of the US Securities and Exchange Commission (SEC), the agency is looking for a supplier who can provide it with the opportunity to analyze blockchain data of leading cryptocurrencies, Cointelegraph reported.

The application was published recently, and according to it, the opportunity is open to companies that will extract data from blockchains and translate them into readable format.

The Commission’s report states that it needs this data “to support efforts to monitor risks, improve legal compliance and gather information for policymaking in the field of digital assets”.

It is also noted that information on potential data sources should be from the most widely used blockchain systems and include publicly available data and transaction details. In addition, the tenderers must ensure the possibility of data verification, guaranteeing their integrity and accuracy.

Applications for participation in the competition are accepted until February 14, but it is not specified how the Commission plans to use the information received. It is not excluded that it can help the Commision to better understand the features of certain projects when making decisions about the classification of coins or tokens by securities.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   101

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.