Cryptocurrency markets

The media learned about the SEC's contract to monitor the DeFi market

The media learned about the SEC's contract to monitor the DeFi market
The U.S. Securities and Exchange Commission signed a contract with the analytical firm AnChain.AI, which will help it monitor and regulate the market of decentralized finance. About it writes Forbes referring to the press service of AnChain.AI.
The initial value of the contract is $125,000, with an option to renew annually for five years. Thus, the potential value of the deal could be as high as $625,000.
The media learned about the SEC's contract to monitor the DeFi market

The media learned about the SEC's contract to monitor the DeFi market

"The SEC really wants to understand what's going on in the world of smart contract-based decentralized assets," said CEO and co-founder Victor Phan. - "So we're giving them the technology to analyze and track smart contracts.
AnChain.AI uses artificial intelligence and machine learning to track illegal activity on crypto exchanges, among DeFi-protocols as well as traditional financial institutions. The contract with the SEC began in May 2021. In addition, AnChain.AI announced it had raised $10 million in a Series A round led by Susquehanna Group-affiliated firm SIG Asia Investments LLP, at an unnamed valuation.
SEC Chairman Gary Gensler noted during a recent interview that DeFi-protocols are not exempt from regulatory compliance, despite their supposed decentralization.
"There is still a group of key guys who not only write the code, as in open source software, but often have management authority and receive commissions. There is some sort of incentive scheme for individuals who promote and sponsor such projects in the middle of this system," he said.

The SEC declined to comment on AnChain.AI's statement.

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