Smart Contracts

SEC is looking for a tool to analyze and monitor smart contracts

The US Securities and Exchange Commission (SEC) has opened a tender for the supply of tools for monitoring and analyzing smart contracts. Applications for participation can be submitted until August 13.

According to the SEC publication , the regulator drew attention to the growth of the decentralized finance (DeFi) industry. With the help of new tools, the SEC hopes to track the code of smart contracts, which should help in effective oversight of the DeFi ecosystem.

The proposed tools should “analyze the logic of smart contracts”, for example, the purpose of using smart contracts, specifications for the sale of tokens, restrictions on the sale and purchase of tokens, white and black lists of addresses, and permission management. 

Also, the tool should detect the modification of smart contracts. A desirable but optional requirement is the ability to analyze the security and vulnerabilities of a smart contract.

In late July, it was reported that the SEC plans to track transactions on the Binance Chain blockchain. The regulator will use CipherTrace tools for this.

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