Big 4 Auditing Giant KPMG Released Crypto Management Tool For Regulatory Compliance

By Tracy Hannes | June 24, 2020

Big 4 auditing giant KPMG has reportedly released a crypto management tool with updates to help conduct analysis, to support regulatory compliance for businesses. 

Specifically, the new KPMG Chain Fusion suite is reportedly designed to provide assistance for tech companies in the finance sector, to offer institutional-level crypto asset services in a simplified manner. 

Crypto assets reportedly operate in a highly distinctive way, compared with traditional assets, in terms of tech infrastructure, operational mechanics, and inherent risks. 

Said distinctions will reportedly lead to troubles when it comes to data management, which are sufficient to satisfy different demands, in fields of account management, anti-money laundering, and security coming from clients. 

KPMG Chain fusion is reportedly designed particularly to tackle the challenges appeared when crypto assets are compared to the traditional type. 

“Regulators and auditors expect fully implemented controls and processes within and across a crypto asset business — whether they are crypto asset or traditional systems or anything in between.” Director and co-lead of KPMG crypto asset services division reportedly remarked. 

KPMG is reportedly scaling up its investing budget for blockchain-focused services, with a blockchain-powered track and trace platform rolled out in Australia, China, and Japan.

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