PwC will audit the cryptocurrency transactions for its clients with a newly launched solution. The Big Four accounting company will expand into the crypto business with its new auditing tool which we are discussing in our altcoin news today.
According to PwC’s press release:
“PwC can currently use this tool to provide assurance services to clients transacting in Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, LiteCoin, Ethereum, ERC20 – OAX token, and Ripple (XRP).”
PwC’s crypto tool shows us all that we are moving forward to a mainstream crypto adoption and we should not be surprised if we see a spike in cryptocurrency transactions since the new tool will give the PwC clients the confidence to transact using bitcoin and other alike digital assets. PwC will audit the crypto transactions for all of those dealing in cryptocurrency in order to establish more robust control.
This new Halo software solution is capable of delivering two important counts:
“Provide independent, substantive evidence of the “private key and public address pairing” which is one of the pieces needed to establish ownership of cryptocurrency. Securely interrogate the blockchain to independently and reliably gather corroborating information about blockchain transactions and balances.”
As explained in the latest cryptocurrency news, the PwC clients which might be crypto exchanges, other entities and traders who transact in crypto will now be able to exercise more control over their digital assets. They could be able to keep track of their crypto accounts and the payments made with bitcoin or other cryptos. Also, the clients will now be able to track their crypto ownership and could reduce the chances of their funds getting lost. Big Four accounting companies are targeting cryptocurrencies as their next major big source of revenue. Earlier this year, Ernst $ Young (EY) announced that it had spent millions in order to upgrade the Blockchain Analyzer tool which helps the users to calculate taxes for their crypto transactions by automatically calculating the gains and losses.
EY launched another tool previously for crypto users. Back in March, the company announced its Crypto-asset Accounting and Tax program but this is not meant for those clients who are only investing in cryptocurrency.
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