As an auditor, transparency isn't optional. It's the foundation.
Standardized disclosures for digital assets are long overdue, and this is a massive step toward getting the market there.
Great work @Blockworks team!
Introducing the Transparency Alliance.
An industry-led alliance establishing the Token Transparency Framework as the standard for token market disclosures.
The Big 4 accounting firms spent a century earning the trust of governments and Fortune 500 companies. htdigital is trying to earn that same kind of trust inside the digital asset space.
@KevinFitzCPA, Partner at @htdgtl:
"The Big 4 have a moat because they're the Big 4. It is what it is. They've developed and built this trust over hundreds of years. What I think our focus is right now is building that same moat in the digital asset space. We want to be the first company that you think of when you're a digital asset company and you need some audit or accounting support."
Trust in professional services takes decades to build.
Whoever earns it first inside crypto becomes the default choice for the industry.
.@KevinFitzCPA, Partner at @htdgtl, on what the GENIUS Act actually requires of stablecoin issuers:
"Monthly attestations should be a core part of how you're thinking about building out your stablecoin infrastructure."
"Segregated accounts for the stablecoins versus your own assets. Those need to be completely separate. You can't have any sort of co-mingling."
"You can't have a bunch of Bitcoin that you're saying is backing your stablecoin. It needs to be US dollars. It needs to be US treasuries."
"Stablecoins and tokenization are maybe 90% of the conversations we're having now."
Ex-EY/ex-PwC @KevinFitzCPA, now US lead at @htdgtl, was on Stabledash Live yesterday sharing what his enterprise clients are actually asking about:
"Stablecoins have emerged almost bigger than - or separate of - an asset class. Every company needs to think about how stablecoins impact their business."
"Whether you're issuing them or leveraging them, those are two separate conversations. But it's something everyone needs to be thinking about at this point."
❓ Why are we in crypto?
@ManoppoMarco: "Crypto is a tool that increases the velocity of capital; and capital, at the end of the day, is a means to coordinate energy."
1/ As humans develop new technologies and economic systems, the objects we use to store value will evolve to match new realities.
My new piece for @collab_currency.
https://t.co/iWNweh8lds