latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

SEC eyes crypto tracing software that tracks Binance Chain

SEC eyes crypto tracing software that tracks Binance Chain
The US Securities and Exchange Commission wants to give blockchain analytics firm CipherTrace a contract that would help it trace transactions on Binance Chain, the blockchain that hosts BNB and underlies Binance DEX, the decentralized exchange built by the market’s largest crypto exchange by volume, Binance. 
As first reported by Coindesk, the SEC wrote in its notice , published yesterday, that it has determined that CipherTrace’s 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 said in its notice that it intends to give CipherTrace the contract by tomorrow.

Why would the SEC give CipherTrace a contract? Though all of the transactions of Binance Chain are public, online blockchain explorers are far too cumbersome for regulators. 
CipherTrace, founded in 2015 and initially funded by DARPA and the US Department of Homeland Security, makes products that help blockchain forensic analysts trace transactions; for regulators, these tools are useful when checking whether crypto exchanges are compliant with local anti-money laundering regulations or tracking the flow of fraudulent transactions. 
Coinbase wants to identify Bitcoin users for DEA, IRS
And tracking Binance is important—it’s one of the largest crypto exchanges in the world and its coin, BNB, is the tenth-largest by market cap. 
CipherTrace, which supports hundreds of digital assets, partnered with Binance in November 2019. It provides Binance with anti-money laundering controls and blockchain tracing tools. 
Binance wrote at the time that the technology would “enable developers, investors and regulators to browse the Binance Chain blockchain, identify high-risk addresses and set controls to protect decentralized applications (DApps), exchanges or other cryptocurrency-based applications.” shares this Contents always with License.

Thank you for Share!



Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News

Buy Bitcoin online in ANY country, supporting 80+ Payment methods!