SEC Increases Scrutiny of Crypto Audits After Binance Auditor Leaves Industry
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Binance’s recent audit left many investors unimpressed. Their concerns grew even more once the auditing firm suspended crypto audits shortly thereafter. Now, the SEC is getting involved.
The Securities and Exchange Commission (SEC) is stepping up scrutiny over audits the crypto companies are getting. The move comes after Binance’s auditor Mazars announced its departure from the sector earlier this week.
After the collapse of the crypto exchange FTX, crypto companies are eager to take any step to reassure their customers. However, these audits often leave much to be desired in terms of transparency.
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