SEC wants a service to monitor transactions in the DeFi market

by in DeFi News

SEC

The head of the Securities and Exchange Commission (SEC), Gary Gensler, has previously repeatedly stated the need to regulate relations in the cryptocurrency industry. According to him, special attention should be paid to monitoring the situation in the market for decentralized financing DeFi.

At the end of last week, it became known about the SEC's plans to launch a special service with which it will be possible to monitor transactions in the DeFi ecosystem.

The analytical company AnChain will create the corresponding software. The regulator and developers signed a partnership agreement. The latter will receive $ 125,000 from the American authorities for their work.

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AnChain press center told reporters that cooperation with the SEC is going to be long-term. The parties plan to implement up to five contracts, each worth $ 125,000. The first project was launched back in May.

AnChain CEO Victor Fan emphasized: "The SEC is interested in understanding the specifics of the use of smart contracts and digital assets. We will provide them with technology to analyze activity in this area."