European Authorities Want Automated Software to Monitor DeFi Activity on Ethereum Blockchain
Source: AdobeStock / ugiss The European Commission , the EU’s executive branch that proposes legislation and implements decisions, is digging deeper into decentralized finance (DeFi) – and is looking to study Ethereum (ETH) data to do so. The Commission has submitted a document per which it seeks, as it says, “A pilot project to develop, deploy and test a technological solution for embedded supervision of [DeFi] activity.” The document does not provide a lot of details, but it does go on to explain that the project would involve data on Ethereum. Called the ‘Study on Embedded Supervision of Decentralised Finance’, “The project will seek to benefit from the open nature of transaction data on the Ethereum blockchain, which is the biggest settlement platform of DeFi protocols. Its main focus will be on automated supervisory data gathering directly from the blockchain to test the technological capabilities for supervisory ...