[ccpw id="5"]

.

HomeNewsSEC Increases Scrutiny of Auditor Studies

SEC Increases Scrutiny of Auditor Studies

-

U.S. Securities and Exchange Commission(SEC) has stepped up scrutiny of the work that audit firms do for cryptocurrency companies.

Last month, FTX filed for US bankruptcy protection, and its Founder Sam Bankman-Fried resigned as chief executive after rival exchange Binance backed out in a proposed buyout. Since then, many crypto firms have fallen into a crisis caused by the collapse of FTX. One of the prominent issues was the decrease in confidence in the liquidity of the stock markets. BinanceThe reserve-sharing trend began, but when issues with controls arose, the SEC stepped up.

SEC Examines Auditors’ Cryptocurrency Research

A senior official of the regulator told the Wall Street Journal on Thursday that the U.S. Securities and Exchange Commission (SEC) has increased its scrutiny of the work that audit firms do for crypto companies.

Many of the audit firms are closely managed or based offshore and are therefore unlikely to fall within the remit of the regulator. In addition to sending an effective warning to audit firms that do not want to conflict with their regulators, the SEC also alarms investors.

SEC’s Acting Chief Accountant Paul Munter In an interview with the magazine; “We warn investors to be very wary of some of the claims made by crypto companies,” he said.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Famous Crypto Exchange Announced: Bought Coins Loaded!

Cryptocurrency exchange OKX has bought over $177 million in altcoins in the last round as part of its 'Buyback and Token Burn Program'.

Binance Crisis Hits Turkish Stock Exchanges!

Binance's suspension of transactions due to problems with its "matching engine" has also affected some Turkish cryptocurrency exchanges.

Binance Processing Opened! What Happened? What Happened to BTC?

Binance has suspended Spot trading. Operations resumed after the interruption. Bitcoin (BTC), which initially declined, gained momentum again...

Animoca Brands Drops Metaverse Fund Target

Animoca Brands, which announced its metaverse target as $2 billion in November, halved this figure to $800 million.

Follow us

0FansLike
3,745FollowersFollow
0SubscribersSubscribe

Most Popular

spot_img