One of the world’s largest audit firms, PricewaterhouseCoppers (PwC) has announced a new solution to help companies control their crypto-active activities. The service is included in PwC Halo’s suite of tools.
The auditor states that this new instrument can provide proof of ownership of cryptomonas. Such tools have already contributed to bringing to justice some of those who use cryptomonas for illegal purposes.
PwC strengthens crypto audit services
Halo Toolkit now includes services for people and organizations involved in cryptomonas transactions. According to official statements, this
“Will be able to provide independent and substantial proofs of ownership over private keys and their association with public addresses”
This can be used to prove ownership of a crypto wallet.
According to PwC, the Halo solution is already used to audit those involved in digital asset transactions. This helps the firm to provide guidance to those who work in this area on best practices in auditing and insurance.
The Halo solution can be used to provide Bithoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, Litecoin, Ethereum, ERC20 – OAX and XRP cryptomonics services.
An evolution needed to legitimize cryptomonas activities
PwC’s Global Assurance Director James Chalmers said:
“Companies continue to digitize their business. It is important that we, in the role of auditors, keep up with the technological changes in the market. We will continue to develop audit tools that respond to the needs of emerging technologies and respond to the changing and developing requirements of stakeholders. “
Contrary to the general impression, trading with digital assets is not completely private. Every year, audit services and specialized firms identify offenders trying to use them for illegal activities.
Cryptomonas such as Bitcoin are not popular among criminals
Some bad actors tried to use the perceived anonymity of crypto assets to hide financial crimes. The Bitcoin coin and other similar cryptomonas are, however, not a good method, as transactions are block-based and publicly available.
In most cases, offenders prefer to use private cryptomonas such as Monero and Grin.
For those interested in distancing Bitcoin from previous associations with illegal activities, audit tools such as those launched by PwC are welcome. This helps legitimate cryptomonas as a trusted financial asset.