Senators Push for Greater Transparency in Cryptocurrency with PROOF Act
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Introduction of the PROOF Act: Senators Thom Tillis and John Hickenlooper have reintroduced the PROOF Act to enhance transparency in cryptocurrency by mandating regular audits for firms offering crypto services, ensuring customer assets are not mixed with company funds.
Impact on Regulation and Trust: The legislation aims to restore trust in the cryptocurrency sector by implementing standardized auditing practices and public reporting through the U.S. Department of the Treasury, while also aligning with new SEC regulations under Chair Paul Atkins.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
