British regulator is interested in blockchain analytics tools

The UK Financial Conduct Authority (FCA) has announced a tender for blockchain analytics firms. The cost of the contract is £ 500,000 ($672,000).

“FCA is looking for a third-party service provider in this area that can provide access to a platform that supports reliable and efficient analysis of cryptocurrency blockchain data,” the filing said.

The regulator added that the contractor must provide training and ongoing support in using the platform. The contract is valid until December 6, 2023.

According to the FCA, data monitoring and blockchain analytics are important regulatory tools as well as the enforcement of anti-money laundering laws.

Earlier, the head of the Office, Charles Randall, said about the need to strengthen the protection of consumers investing in cryptocurrencies. At the same time, he urged “not to go to extremes.”

In 2020, the FCA introduced a temporary registration regime for cryptocurrency companies. The agency later extended the regime until March 31, 2022, during a “thorough assessment.”

Recall that in September, Mastercard announced the acquisition of CipherTrace, which specializes in tracking suspicious activity on the blockchain of more than 900 cryptocurrencies.



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