At a time when digital currencies are surging, the U.S. Securities and Exchange Commission (SEC) has announced that it may be involved in the operation of Bitcoin and Ethereum nodes. This move has attracted widespread attention and speculation in the industry. As a financial regulator, what kind of changes will the SEC bring to the market once it gets involved in the field of digital currencies? Let's explore it in depth.

As the guardian of the U.S. financial market, the SEC's involvement in the operation of Bitcoin and Ethereum nodes means that regulators have begun to pay attention to and intervene in the field of cryptocurrency. As the two cryptocurrencies with the highest market value, the blockchain technology behind Bitcoin and Ethereum has proven to be revolutionary. The SEC's choice to explore node operations is undoubtedly due to the potential of this technology, which also means that regulators will include cryptocurrencies in their regulatory scope, bringing more norms and transparency to the digital currency market.

From a regulatory perspective, the SEC's involvement in the operation of Bitcoin and Ethereum nodes will enhance the compliance of the digital currency market. The decentralized nature of blockchain technology makes digital currency transactions relatively anonymous and difficult to track, and it is easy to be used for illegal activities. The SEC's participation in node operations will help monitor and regulate digital currency transactions, reduce market manipulation and illegal transactions, and provide investors and market participants with a safer trading environment.

In addition, the SEC's operation of Bitcoin and Ethereum nodes will also promote the development and innovation of the digital currency market. The involvement of regulators usually brings more compliant projects and investment opportunities to the market, attracting more traditional financial institutions and large investors to enter the digital currency field. As the market scale expands, the digital currency ecosystem will be more complete, and technological innovation will be further promoted, injecting new vitality and vigor into the entire industry.

However, the SEC's involvement in the operation of Bitcoin and Ethereum nodes also faces many challenges and risks. The digital currency market is highly volatile, and regulators need to formulate more flexible and adaptable regulatory policies to avoid excessive intervention in market development. At the same time, the technical characteristics of digital currencies also bring challenges to supervision. The SEC needs to strengthen technical research and talent training to better understand and regulate this emerging field.

In general, the SEC may operate Bitcoin and Ethereum nodes. This move will have a positive impact on the digital currency market, improve market compliance and transparency, and promote market development and innovation. However, regulators need to be cautious in dealing with various challenges and risks, maintain the flexibility and foresight of regulatory policies, and provide strong support for the healthy development of the digital currency market. The SEC's move will become an important milestone in the development of the digital currency market and will also lead a new direction for global digital currency regulation. I hope that regulators and the market will work together to promote the digital currency industry to a new stage of greater standardization, transparency and maturity.

The four most famous international exchanges:

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Note: The above exchange logo is the official website registration link, and the text is the APP download link.

The U.S. Securities and Exchange Commission (SEC) plans to run Bitcoin and Ethereum nodes through contractors and "cover as many of the following blockchains as possible: Bitcoin Cash, Stellar, Zcash, EOS, NEO, and XRP
Ledger."

According to trustnodes, the SEC did not provide a specific reason why they need to run their own nodes, only stating that it is to "support monitoring risks and improve compliance." It also specifically stated that "all blockchain data should be obtained from the managed node, rather than obtaining this data through secondary sources (such as blockchain browsers)."

Therefore, the SEC may be looking for an analysis company and outsourcing blockchain monitoring and compliance investigations. The data they need also includes information such as "hash algorithm, hash power, mining difficulty and rewards, transaction number and size, cryptocurrency supply, and blockchain capacity."

This type of data is usually available through many free blockchain browsers, but it may be that they want to analyze more than just data, because they require contractors to "demonstrate that the rigor of data processing and normalization meets the requirements of financial statement audit testing." The SEC requires all data after the genesis block to be provided once, and then updated daily through the API they provide. This means that the SEC may be looking to implement a blockchain monitoring system.

Bitcoin is a decentralized and open network where anyone can run a Bitcoin node and access all the data, but the SEC has no jurisdiction over Bitcoin. However, on-chain activities may fall under their jurisdiction. For example, Ethereum raised funds on the Bitcoin blockchain when it launched four years ago.

The SEC previously said that Ethereum is not a security, but it has not yet clarified whether XRP is a security, or whether many other tokens running on Ethereum are securities.

In any case, the move means that US regulators are making efforts in the crypto field, although it is unclear what the SEC's true intentions are.