US SEC Seeking Big Data Tool for Major Blockchains

The U.S. Securities and Exchange Commission is seeking vendors to provide detailed blockchain data in order to improve crypto compliance.

AccessTimeIconFeb 4, 2019 at 9:00 a.m. UTC
Updated Sep 13, 2021 at 8:51 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

The U.S. Securities and Exchange Commission (SEC) is seeking a tool to provide a Big Data view across major blockchains.

In a solicitation notice published Thursday, the regulator said it is looking for both small and large businesses who can provide data for the "most widely used" blockchain ledgers based on transaction volume, in order to "monitor risk and improve compliance" related to cryptocurrencies.

The SEC said it requires the data in an “easily reviewable” format, along with an overview of how the information is extracted and converted to ensure “there is no loss in data completeness and accuracy due to the data transformation tools and processes applied.” Notably, the agency is seeking to identify transaction details among "the universe of available information."

Interested vendors should respond to the SEC by Feb. 14, according to the announcement.

The news comes soon after the SEC said that digital assets or cryptocurrencies will be one of its examination priorities this year, including “concerns related to custody and safekeeping of investor assets, valuation, omitted or misleading disclosures regarding the complexities of the products and technology, and the risks of dramatic price volatility.”

Last October, it set up the Strategic Hub for Innovation and Financial Technology (FinHub) to enable fintech startups, including those launching initial coin offerings (ICOs), to navigate the legal implications of their products.

The commission has also said it soon plans to release “plain English” guidance on when and how cryptocurrencies may be classified as securities to help developers determine on their own for any potential token offering.

Another top U.S. regulator, the Commodity Futures Trading Commission (CFTC), said it was looking to learn more about ethereum in December, ranging from its technology to how it’s used, in order to ensure compliance of derivatives markets based on the cryptocurrency.

U.S. SEC image via Shutterstock 


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.