SEC to Monitor Binance Chain Transactions with CipherTrace's Tool
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The US Securities and Exchange Commission (SEC) wants to start monitoring all operations inside the Binance Chain blockchain, CoinDesk has learned, citing SEC's memo.

According to the document, the SEC intends to award a fixed-price contract on a single source basis to CipherTrace, a blockchain analytical platform.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

The watchdog says CipherTrace is "the only source" that can reasonably meet its requirements.

"CipherTrace products are the only known blockchain forensics and risk intelligence tool that can support the Binance coin (BNB) and all tokens on the Binance network," the SEC says.

CipherTrace will reportedly be awarded with the contract on or before July 31, 2020.

iHodl earlier reported that the Federal Bureau of Investigation (FBI) contacted several companies such as Chainalysis and CipherTrace to assist with the investigation on the recent attack against Twitter.

Although it might seem the SEC wants to have a finger in every pie, not all the Commission members are agreed on the regulator's actions.

Coinbase is Selling its Blockchain Analysis Software to the US Secret Service

For instance, Hester Peirce, the SEC's commissioner, previously criticized the regulator's action against Telegram.

Peirce told Blockchain Association Singapore that she had refused to support the settlement against Telegram's TON blockchain project because she did not support the underlying action.

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