SEC official warns investors against trusting proof-of-reserve audits

Investors shouldn’t have too much faith in a company presenting a proof-of-reserves audit, said SEC’s acting top accountant Paul Munter. He made the implication that these audits’ findings don’t always represent the company’s financial health.

Munter said, “we’re warning investors to be very wary of some of the claims that are being made by crypto companies.”


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