KPMG helps US cryptocurrency firms comply with reporting standards

The four major accounting firms, KPMG and Cryptio, have established a strategic alliance to help US cryptocurrency companies comply with Generally Accepted Accounting Principles (GAAP). According to the announcement, the KPMG-Cryptio strategic alliance aims to establish control measures within cryptocurrency companies to better account for their cryptocurrency assets. Through this cooperation, cryptocurrency-related companies and institutions can use Cryptio's accounting software to fulfill their GAAP accounting and reporting obligations in the United States.