SEC Signs $125K Deal With Anchain.ai to Supervise DeFi

U.S Securities and Exchange Commission (SEC) has signed a $125K deal with blockchain surveillance firm Anchain.ai. In detail, SEC seeks to leverage Anchain.ai in having an insight into what is happening in the world of decentralized finance (DeFi).

Furthermore, Anchain.ai is working with centralized exchanges (cex) and financial institutions with exposure to these assets. The initial value of the contract is $125K. However, Anchain.ai could sign five more annual contracts with the SEC in order to obtain $625K.

To begin with, Anchain.ai is monitoring wallets that are tied to cybercriminals. Moreover, its designed predictive engine can be used to identify unknown addresses and transactions that could be suspicious.

The Anchain.ai CEO and co-founder Victor Fang says

The SEC is very keen on understanding what is happening in the world of smart contract-based digital assets. So we are providing them with technology to analyze and trace smart contracts.

DeFi currently manages more than $82 billion, at the time of writing.  Additionally, the largest decentralized exchange, Uniswap, has processed over $1.8 billion worth of transactions in the last 24 hours.

Ye Li, an investment manager at the financial institution SIG, said that:

Anchain.ai has made great progress in developing its market-leading crypto security technology to meet its customers’ broad demand in regulatory compliance and transaction intelligence.