The SEC wants a smart contract analysis tool to monitor the DeFi boom. The agency published specifications for a system that would access blockchain information tied to blockchains. The tool must analyze smart contracts and pull contract documentation from source code. It should provide data on ledger purpose, purchase and sales restrictions, cryptocurrency specifications, and whitelisted and blacklisted addresses. The system must detect contract modifications made through admin keys and record smart contract calls. The SEC wants reporting features for all these functions, with access available at agency headquarters and remote locations.
SEC seeks smart contract analysis tool
The SEC wants a smart contract analysis tool to monitor the DeFi boom. The agency published specifications for a system that would access blockchain information tied to blockchains. The tool m
Key Points
- The SEC wants a smart contract analysis tool to monitor the DeFi boom.
- The agency published specifications for a system that would access blockchain information tied to blockchains.
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The SEC has already purchased a product from CipherTrace, a blockchain forensics and risk intelligence platform. CipherTrace can trace cryptocurrencies supported on Binance's network, including Binance coin. The Pentagon is pursuing similar tools, soliciting blockchain tracing systems from firms like Coinbase and Chainalysis.
Many decentralized blockchains embed secrecy into their design. This creates a regulatory tension. If government pressure makes Ethereum smart contracts vulnerable to surveillance, developers working with privacy-focused users will build alternative platforms.
The SEC and Pentagon want comprehensive access to smart contracts and blockchain activity. Building systems that deliver this scope could prove expensive and technically difficult.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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