2023-04-21 07:54:17
Texas passes a new bill: crypto exchanges must provide Proof Of Reserves.
The new bill requires a digital asset service provider, not later than the 90th day after the end of each fiscal year, to file a report with the Texas Department of Banking. The reports, according to the TDB, must include the following:
An attestation by the digital asset service provider of outstanding liability to digital asset customers, documented using zero-knowledge encryption or a similar industry standard
evidence of customer assets held by the person, documented using zero-knowledge encryption or a similar industry standard
an attestation by an auditor that the information in the report is true and accurate
a copy of the provider’s plan to allow auditors and customers to view the accounting of digital assets quarterly, as well as the customer’s digital assets at any time.
https://watcher.guru/news/texas-passes-new-bill-crypto-exchanges-must-provide-proof-of-reserves
@BestIco
5.7K views04:54