Regulatory Series on Cryptocurrencies: US SEC’s meticulous approach on cryptocurrencies continues

We have seen cryptocurrency struggle ever since the U.S. SEC (Securities and Exchange Commission) declined the Winklevoss twins’ attempts of launching a bitcoin ETFs.

The US regulatory agency (SEC), has constantly shown its meticulous approach by denying the approval of many applications filed by the crypto-aspirant companies like VanEck, SolidX, Cameron and Tyler Winklevoss.

The meticulous approach on the crypto regulation has prolonged while having embraced the crypto-markets even while fighting to fend off fraud. We kept reiterating on the U.S. SEC’s eagle eye on the ICO and crypto regulation amid various crypto scams and scandals.

The US SEC intends the company to “support its efforts to monitor risk, improve compliance, and inform Commission policy with respect to digital assets.”

With that objective, the US financial watchdog is looking forward for crypto-companies’ data like hash rate, blockchain explorers, transaction fees, and etc. Currently, there are several players involved such services like Messari Crypto, Coinmetrics, Blockchain Info, The Tie, and so on, as per the sources.

Distributed ledger technology, or DLT, is the advancement that underpins an array of new financial products, including cryptocurrencies and digital payment services. Many have identified DLT as the next great driver of economic efficiency. Some have even compared it to productivity-driving innovations such as the steam engine and personal computer, hence, the regulator is looking at it very meticulously.

The SEC urges for the subscription would include the Bitcoin and Ethereum blockchains and, in addition, the subscription shall include as many as possible of the following blockchains: Bitcoin Cash, Stellar, Zcash, EOS, NEO, and XRP Ledger also.