On Thursday, April 20, the Texas House of Representatives passed a crucial bill considering crypto exchanges to provide Proof-of-Reserves for accountability and to deliver transparency for its users. The new legislation stipulates that the digital asset service provider must submit a report to the Texas Department of Banking no later than the 90th day after the end of each fiscal year.
Texas Passes New Crypto Bill
In accordance with the published bill, the report is required to include an attestation by the crypto service provider of outstanding liabilities to digital asset customers. This attestation must be established utilizing zero-knowledge encryption or another industry standard of a comparable nature.
Read More: Crypto Influencer “BitBoy Crypto” Defies Court Order To Appear In FTX Probe
In addition to this, there should be evidence of customer assets held by the person, documented using zero-knowledge encryption or a similar industry standard, as well as an attestation from
We współpracy z: https://coingape.com/texas-crypto-bill-exchanges-transparency/
