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SEC ‘dug in’ on bank crypto custody rule as agency’s stance ‘unchanged’
10.9.2024
SEC chief accountant Paul Munter said agency staff views on a divisive rule curtailing banks from offering crypto custody services “remain unchanged.”
South Korean Tax Accountant: Digital Assets Held in Non-Custodial Wallets Not Subject to Overseas Reporting Requirement
5.1.2024
South Koreans with digital assets held in non-custodial or decentralized crypto wallets like Metamask or Ledger are reportedly not subject to the country’s overseas financial account reporting requirement. According to a South Korean tax accountant, only virtual assets held on overseas centralized...
SEC Charges FTX Auditor for Helping Clients Violate Securities Laws
2.10.2023
The U.S. Securities and Exchange Commission (SEC) announced charges against an accounting firm that worked for failed cryptocurrency exchange FTX. The company, Prager Metis, has been accused of facilitating clients in breaking federal securities laws and also auditor independence violations....
SEC chief accountant warns accountants about liabilities when auditing crypto firms
27.7.2023
Paul Munter says making or allowing misleading statements can have serious consequences for accounting forms and individual accountants
‘Large Amounts of Money’ Flowed in Binance Related Accounts: SEC Accountant Says
8.6.2023
An accountant for the US Securities and Exchange Commission says crypto exchange Binance, CEO Changpeng Zhao and related entities moved “large amounts of money” from 2019 up to this year.
Binance and its entities held numerous accounts with the now failed Silvergate Bank and Signature Bank during...
FTX financial controls were a ‘hodgepodge’ of apps, says court filings
10.4.2023
A court filing alleged apps such as Excel spreadsheets and Slack messages were used to manage the assets and liabilities of FTX and its entities
Study claims 99.5% of crypto investors did not pay taxes in 2022
7.4.2023
Finland and Australia had the highest proportion of tax-paying crypto investors, while the United States ranked 10th on the list, according to the study
Report: SEC Heightens Probe Into Auditors Servicing Crypto Exchanges
23.12.2022
According to the U.S. Securities and Exchange Commission’s Paul Munter, the agency’s acting chief accountant, the U.S. regulator is monitoring proof-of-reserves (POR) more closely. “We’re warning investors to be very wary of some of the claims that are being made by crypto companies,” Munter...
‘Correctly’ Was Wrong: Circle’s Accountant Tweaks Fine Print of USDC Attestation
24.3.2022
Grant Thornton has switched from calling the $52.3 billion stablecoin’s reserve accounts “correctly stated” to the more equivocal “fairly stated.” Here’s why that matters
Circle Publishes USDC Attestation, Reserve Report Reveals Segregated Accounts in USD-Denominated Assets
20.7.2021
On July 20, the CEO of Circle Internet Financial LLC., Jeremy Allaire, published a blog post that explains the firm’s dollar-pegged stablecoin is backed by “prioritized trust, transparency, and accountability.” Allaire’s blog post follows a letter from the Centre...
How to Choose a Cryptocurrency Accountant?
2.10.2019
When seeking the services of a reputable business, the first approach is often to ask around. Facebook and Twitter are filled with people asking members of their network for recommendations; including basic questions such as “Where can I get my sofa upholstered?” or “What’s the name of a good...