In order to monitor risk and improve compliance the U.S. Securities and Exchange Commission (SEC) is researching automated sources of blockchain data. This is an indication of stronger analysis objectives.
The SEC is seeking automated data sources of blockchain data. The SEC would like to know not only the vendor’s ability to provide the requested data but also an overview of the processes used to extract the data, convert the data into a reviewable format, and the verification steps to ensure there is no loss in data completeness and accuracy due to the data transformation tools and processes applied. The requirements for the data provision include:
• Provide data extracts on a recurring basis for the most widely used blockchain ledgers,
based on transaction volume.
• Cleanse and normalize data to enable review and exploration.
Provide capability to derive insights from the available data, including attribution data (i.e. to whom a particular address belongs).
• Provide a means to demonstrate data provided is accurate and complete.