SEC Partners With AnChain.AI to Supervise DeFi Activity
iHodl.com
Main page News, SEC, Crypto Market, Regulations, DeFi
Hot topic
27 August
37 37

The US Securities and Exchange Commission (SEC) has signed a partnership agreement with AnChain.AI to supervise the activity on the decentralized finance (DeFi) market, a company spokesperson told Forbes.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

The contract's initial price is set at the $125,000 mark, with an option to extend it for five years for a total of $625,000. AnChain.AI СEO, Victor Fang, says the watchdog "is very keen" on understanding what is going on in the area of smart contracts.

"...so we are providing them with technology to analyze and trace smart contracts," Fang added.

Goldman Files for DeFi-focused ETF

The deal comes as the SEC Chair, Gary Gensler, warned that the DeFi infrastructure will not save protocols from oversight. According to him, there is still a "core group of folks" who control the governance of protocols and getting percentage from fees.

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

Read also:
Please describe the error
Close