Crypto, a cryptographic accounting platform, cooperates with Protocol Labs
On March 15th, it was announced that Crypto, an institutional level crypto accounting platform, has reached a partnership with Protocol Labs, the company behind Filecoin, to help Filecoin related mining companies fulfill their audit obligations – an important factor in the company’s search for listing. Crypto provides accounting, auditing, and tax software for encryption companies. According to a press release, the company will now allow Filecoin mining companies to generate accounting reports required for financial audits through the Public Company Accounting Oversight Board (PCAOB).
Interpretation of this information:
Crypto, an institutional level crypto accounting platform, has partnered with Protocol Labs, the firm behind Filecoin. The aim of the partnership is to help mining companies associated with Filecoin to fulfill their audit obligations. This is an important factor in the company’s quest to be listed. Crypto provides accounting, auditing, and tax software for cryptocurrency firms. According to the press release, mining companies for Filecoin will now be able to generate accounting reports that are necessary for financial audits through the Public Company Accounting Oversight Board (PCAOB).
This announcement has implications for both Crypto and Filecoin. First, Crypto will be able to expand its services to mining companies beyond just accounting, auditing, and tax software. By partnering with Protocol Labs, the company can offer a more comprehensive suite of services. In addition, the partnership could lead to more business for Crypto as mining companies seek compliance for financial audits.
For Filecoin, this partnership is especially important in its quest for listing. According to the press release, financial audits are a requirement for many exchanges that list cryptocurrencies. By partnering with Crypto, Filecoin can ensure that its mining companies meet these requirements. This, in turn, could lead to more exchanges listing Filecoin.
In conclusion, the partnership between Crypto and Protocol Labs is a significant development for both companies. For Crypto, it is an opportunity for expansion and more business from mining companies. For Filecoin, it is a step closer to being listed on more exchanges.
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