US lawmakers reiterate issues about 'sham' crypto agency audits to PCAOB

United States Senators Elizabeth Warren and Ron Wyden have cited the latest collapse of three main banks to name on the Public Firm Accounting Oversight Board to “rein in” audits of crypto companies.

In a March 21 letter to Public Firm Accounting Oversight Board chair Erica Williams, Warren and Wyden reiterated issues over “shady audits” of crypto corporations the pair raised in January, this time referencing the failures of Silvergate Financial institution, Silicon Valley Financial institution, and Signature Financial institution (NASDAQ:). The 2 senators requested Williams reply to questions on whether or not improper audits and proof-of-reserve reviews “could have performed a direct or oblique function” within the collapse of the banks.

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