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The decentralized oracle network Chainlink (LINK) defied the overall crypto market dip and witnessed a mild bump in price after Chainlink Labs announced that it had joined the U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force.
The project announced on the social media platform X that it had joined the task force to “discuss the need for standards enabling the compliant issuance and trading of tokenized assets at scale.”
“For the blockchain industry to reach its full potential and tap institutional capital, meeting regulatory requirements is essential. Only Chainlink provides the compliance, privacy, cross-chain, and data infrastructure needed to scale digital asset adoption in a single platform.
Chainlink’s Automated Compliance Engine (ACE) enables developers and institutions to define and enforce compliance policies directly within smart contract workflows, providing a framework for tokenized assets to remain compliant with regulatory requirements as they move across the on-chain economy.”
LINK is trading at $17.49 at time of writing. The 17th-ranked crypto asset by market cap is up nearly 3% in the past 24 hours, more than 12% in the past seven days and more than 33% in the past month.
By comparison, the overall crypto market is down 3.6% in the past 24 hours, according to data from CoinGecko.
