The U.S. Securities and Exchange Commission (SEC) intends to track transactions on the Binance Chain blockchain, using CipherTrace’s cybersecurity tools, reports the agency.
\n
In addition to BNB, the Commission is interested in tracking all 189 tokens on Binance Chain. The SEC statement says that CipherTrace is the sole provider of the tools they require on the market.
\n
According to Binance CEO Changpeng Zhao, the use of blockchain-analytics tools is widespread. He believes that BNB support in CipherTrace’s solutions is an important aid for BEP2 token listings on fiat exchanges.
\n
\n
Clickbait / misleading title again. 😂
\n
Blockchain analysis tools are common, and typically support BTC, ETH and more recently ERC20 tokens.@ciphertrace‘s support of #BinanceChain is an important step for more BEP2 token listings on fiat exchanges.#BTC, #ETH, #BNB https://t.co/ecR0Dk2ZFz
\n
— CZ Binance (@cz_binance) July 30, 2020
\n
\n
With a market capitalization of nearly $3 billion, Binance Coin ranks in the top 10 cryptocurrencies. In the last 24 hours, BNB’s trading volume stood at $226 million, and over the past week the coin added 10% to its market value.
\n
In April last year, Binance announced a collaboration with CipherTrace to combat illicit financial activity. The exchange’s Chief Compliance Officer Samuel Lin noted that the move would allow the company to enter new markets.
\n
In November last year, the decentralized exchange Binance DEX announced its intention to deploy CipherTrace tools.
\n
Follow ForkLog news on Twitter!