TechFlow news, according to Cointelegraph, KPMG—one of the Big Four accounting firms—has formed a strategic alliance with cryptocurrency accounting software provider Cryptio to help U.S. crypto companies achieve GAAP compliance and improve their accounting and reporting practices. The KPMG-Cryptio strategic partnership aims to establish internal controls within cryptocurrency companies for more effective accounting of their digital assets.
Antoine Scalia, founder and CEO of Cryptio, said the collaboration lays the foundation for the long-term sustainable development of the crypto industry. According to KPMG research, nearly 40% of institutional investors reported direct or indirect exposure to crypto assets in 2023, a significant increase from 31% in 2021.
