Binance Appoints Grant Thornton for Accounting and Tax Advice
CryptoNewsTerminal Staff04 Sep, 2024
Binance Appoints Grant Thornton for Accounting and Tax Advice
Binance, the world's largest cryptocurrency exchange, has enlisted the services of Grant Thornton, a U.K.-based accounting firm, for accounting and tax advice. This move signifies Binance's commitment to compliance and transparency in the rapidly evolving cryptocurrency industry. Grant Thornton, known for its expertise in the financial sector, has previously collaborated with Circle, a stablecoin issuer. Their appointment by Binance demonstrates the growing recognition of cryptocurrency as a legitimate asset class. Binance's decision to seek professional accounting and tax guidance underscores its commitment to adhering to regulatory requirements and international best practices. By partnering with Grant Thornton, Binance aims to navigate the complex tax and accounting landscape of the cryptocurrency industry effectively. This collaboration is a testament to Binance's ongoing efforts to enhance its compliance framework and foster trust among its users. As the cryptocurrency market continues to mature, Binance's partnership with Grant Thornton will undoubtedly contribute to its long-term success and sustainability.
