KPMG Crypto Teams Up with Cryptio for GAAP Compliance in the US

IconCryptoNewsTerminal Staff19 Jul, 2024

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KPMG Crypto Teams Up with Cryptio for GAAP Compliance in the US

KPMG, one of the Big Four accounting firms, has joined forces with Cryptio, a crypto accounting platform, to assist cryptocurrency businesses in the United States in complying with Generally Accepted Accounting Principles (GAAP). This strategic alliance empowers crypto-related organizations in the U.S. to utilize Cryptio's accounting software to fulfill their GAAP accounting and reporting requirements. By leveraging Cryptio's platform, these businesses can streamline their accounting processes, ensuring accuracy and transparency in their financial reporting. This collaboration marks a significant step in addressing the growing need for standardized accounting practices within the cryptocurrency industry. With KPMG's expertise in accounting and auditing, and Cryptio's specialized knowledge in crypto accounting, this partnership aims to provide crypto businesses with the tools and guidance they need to navigate the complexities of GAAP compliance. By embracing GAAP standards, crypto businesses can enhance their credibility and foster trust among stakeholders, including investors, regulators, and customers. This, in turn, can contribute to the overall growth and maturation of the cryptocurrency ecosystem.

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