Tether Taps KPMG Full USDT Audit
Tether Taps KPMG Full USDT Audit
Tether hired KPMG for the first full USDT audit, bringing in PwC to overhaul internal systems. Tether taps KPMG full USDT audit marks a significant shift.
Tether Pursues Transparency with KPMG Audit
The review will cover assets, liabilities, and internal controls of the company’s balance sheet. According to the issuer, it is the largest inaugural audit in financial history, with $185 billion in circulation.
Scope of the Audit
The audit implies far more than a reserve count, covering asset valuation and internal controls. The firm states that the Big Four was selected through a competitive process.
GENIUS Act and US Expansion
Tether is evaluating a capital raise of up to $20 billion in equity and plans to register USDT under the regulatory framework of the Guiding and Establishing National Innovation for US Stablecoins Act.
Regulatory Compliance
The company maintains its valuation target of $500 billion based on its earnings. Tether also seeks to comply with strict anti-money laundering requirements.
Key Takeaways
- Tether hired KPMG for the first full USDT audit, bringing in PwC to overhaul internal systems.
- The audit will cover assets, liabilities, and internal controls of the company’s balance sheet.
- Tether plans to register USDT under the regulatory framework of the GENIUS Act.
- The company is evaluating a capital raise of up to $20 billion in equity.
Frequently Asked Questions
What is the scope of the KPMG audit?
The audit will cover assets, liabilities, and internal controls of the company’s balance sheet, including asset valuation.
Why is Tether registering USDT under the GENIUS Act?
Tether seeks to comply with the regulatory framework and strict anti-money laundering requirements, ensuring transparency and trust in the stablecoin market.
