SEC is on track to deal with Blockchain analytics firm CipherTrace to monitor Binance Chain transactions.
The U.S. Securities and Exchange Commission (SEC) plans to negotiate with Blockchain analytics firm CipherTrace to monitor transactions taking place at Binance Chain.
The California-based CipherTrace company is currently the only Blockchain analytics company that can track transactions on Binance Chain. “CipherTrace products are the only known Blockchain forensics and risk intelligence tool to support BNB and all tokens in the Binance network,” the official document published by the SEC. statements took place.
In November 2019, CipherTrace partnered with Binance to provide Binance Chain, which has 189 other tokens, as well as cryptocurrency BNB, which has a market value of about $ 3 billion, as well as 189 other tokens.
SEC will initially make a one-year agreement with CipherTrace, with a four-year option period. The total value of the contract has not been determined yet.
“Binance Chain is a community-driven software system launched by participants from the community with Binance, and all transactions are open to the public,” said Binance official, speaking to The Block on the subject. said.