Tillis, Hickenlooper Introduce Bipartisan Legislation to Prevent Another FTX Disaster
October 21, 2023
October 21, 2023
WASHINGTON, Oct. 21 -- Sen. Thom Tillis, R-North Carolina, issued the following news release:
U.S. Senators Thom Tillis (R-NC) and John Hickenlooper (D-CO) introduced the Proving Reserves of Others Funds (PROOF) Act, bipartisan legislation that would establish strong safeguards against instances of unethical co-mingling of customer funds while also requiring digital assets institutions to submit to a monthly proof of reserves (PoR) inspection by a neutral third-party auditing firm.< . . .
U.S. Senators Thom Tillis (R-NC) and John Hickenlooper (D-CO) introduced the Proving Reserves of Others Funds (PROOF) Act, bipartisan legislation that would establish strong safeguards against instances of unethical co-mingling of customer funds while also requiring digital assets institutions to submit to a monthly proof of reserves (PoR) inspection by a neutral third-party auditing firm.< . . .