The U.S. Securities and Exchange Commission (SEC) intends to award a fixed-price contract on a single source basis to Ciphertrace.

The SEC is awarding the contract to the blockchain monitoring company as it plans focus on BNB coin, as well as other tokens on the Binance’s DEX. The BNB token has multiple forms of utility and powers the Binance Ecosystem as its underlying gas.

The U.S. regulator says it has chosen Ciphertrace because “its 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.”

This follows a determination by the contracting officer “that Ciphertrace Inc is the only source that can reasonably meet the SEC’s requirement in accordance with FAR Part 13.106-1(b).”

According to the SEC notice, “the period of performance for the contract is anticipated to be one year with four one year option periods and the total value of the contract shall be below the Simplified Acquisition Threshold.”

The SEC intends to award a contract…

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Source: https://news.bitcoin.com/us-regulator-zeroes-in-on-binance-chain-as-sec-awards-monitoring-contract-to-ciphertrace/