Wall Street Journal: SEC is stepping up scrutiny of auditors' work for cryptocurrency companies

The U.S. Securities and Exchange Commission (SEC) is stepping up scrutiny of the work auditors do for cryptocurrency companies amid concerns investors may be getting false insights from the companies' reports, a senior official said, according to the Wall Street Journal. peace of mind. “We warn investors to be wary of some of the claims made by cryptocurrency companies,” the SEC’s acting chief accountant, Paul Munter, said in an interview. Heightened scrutiny has come shortly after the release of the report on the company’s assets and liabilities. Caused at least one audit firm to abandon cryptocurrency clients.