Amidst Calls To Develop Regulatory Framework For Crypto Industry, Releasing Proof of Reserves (PoR) Audits Appears To Be A Good
29 Nov 2022, 14:32
🗣️ Amidst Calls To Develop Regulatory Framework For Crypto Industry, Releasing Proof of Reserves (PoR) Audits Appears To Be A Good Start!
The recent FTX breakdown has arguably increased the call to develop a sustainable regulatory framework for the crypto industry. While some are in support, others are against it - as they believe crypto self-regulates itself, and any effort should be directed towards the betterment of characters in the crypto industry.
However, amidst the calls, a new practice has surfaced over the recent weeks where centralized exchanges release their Proof of Reserves (PoR) - an alternative to showcase transparency in absence of clear regulations. PoR is an independent audit outsourced to a third party to ascertain if a custodian holds assets it claims to own on behalf of its clients.
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29 Nov 2022, 14:47
Amidst calls to develop a regulatory framework for the crypto industry, centralized exchanges releasing their Proof of Reserves (PoR) Audits appears to be a good start
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#dmddiamondblockchain #blockchain #cryptonews #ProofOfReserves
Amidst calls to develop a regulatory framework for the crypto industry, centralized exchanges releasing their Proof of Reserves
Amidst calls to develop a regulatory framework for the crypto industry, centralized exchanges releasing their Proof of Reserves (PoR) Audits appears to be a good start
Read more👇
https://t.co/TO1mTdjlD9
#dmddiamondblockchain #blockchain #cryptonews #ProofOfReserves