The decentralized Oracle Network Chainlink (link) defied the total crypto market dip and witnessed a mild price after Chainlink Labs announced that it had joined the Crypto Task Force of the US Securities and Exchange Commission (SEC).
The project announced on the social media platform X that it had joined the Task Force to “discuss the need for standards that make the conforming and trade of Tokenized assets possible to scale.”
“For the blockchain industry to reach its full potential and to tap institutional capital, it is essential to meet the legal requirements. Only Chainlink offers the compliance, privacy, cross-chain and data infrastructure that is needed to scale the acceptance of digital assets on a single platform.
With the Automated Compliance Engine (ACE) of Chainlink, developers and institutions can directly define and enforce the compliance policy in smart contract workflows and offer a framework for Tokenized assets to meet the legal requirements as they move about the economy of the chain. “
Link is traded at $ 17.49 at the time of writing. The 17th ranking order crypto-asset per market capitalization has risen by almost 3% in the last 24 hours, more than 12% in the last seven days and more than 33% in the past month.
For comparison: the overall crypto market has fallen by 3.6% in the last 24 hours, according to data from Coetecko.
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Generated image: midjourney