According to the SEC’s Paul Munter, the agency’s acting chief accountant, the U.S. regulator is monitoring crypto exchange proof-of-reserves more closely.
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 more closely. “We’re warning investors to be very wary of some of the claims that are being made by crypto companies,” Munter explained to the Wall Street Journal on Dec. 22.U.S.
“We’re warning investors to be very wary of some of the claims that are being made by crypto companies,” Munter explained. “Investors should not place too much confidence in the mere fact a company says it’s got a proof-of-reserves from an audit firm,” the SEC accountant stressed. Munter continued: [A POR audit] is not enough information for an investor to assess whether the company has sufficient assets to cover its liabilities.
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