KPMG Calls for Robust Custodian Framework to Drive Bitcoin Adoption

KPMG Calls for Robust Custodian Framework to Drive Bitcoin Adoption

KPMG Emphasizes Need for Enhanced Custodian Framework to Facilitate Bitcoin Adoption In a recent report, KPMG, one of the world's leading accounting firms, has highlighted the critical role of robust custodian practices in driving wider Bitcoin adoption. The report underscores the importance of custodians in safeguarding Bitcoin and simplifying the management of cryptographic keys. "Custodians play a crucial role in securing Bitcoin and fostering the growth of the industry," the report states. "While Bitcoin's decentralized nature empowers users with control over their funds, managing cryptographic keys can be daunting. Custodians alleviate these complexities and risks, attracting new investors to the space." KPMG emphasizes the need for custodians to establish a solid framework capable of mitigating internal and external threats. Such a framework should encompass comprehensive security measures, regulatory compliance, and transparent reporting practices. The report's findings align with the growing recognition of the importance of custodianship in the rapidly evolving Bitcoin ecosystem. As adoption continues to expand, the demand for secure and reliable custodians is expected to surge, further contributing to the legitimacy and accessibility of Bitcoin.