by Jamie Crawley at CoinDesk
Mazars, the auditing firm working with Binance and other crypto exchanges on proof-of-reserves statements, has paused all work for crypto clients, Binance said in an emailed statement and Mazars confirmed to CoinDesk.
“Mazars has indicated that they will temporarily pause their work with all of their crypto clients globally, which include Crypto.com, KuCoin and Binance. Unfortunately, this means that we will not be able to work with Mazars for the moment,” a Binance spokesperson said. The suspension was reported earlier by Bloomberg.
Mazars said in an emailed statement that it had only paused its work for crypto firms relating to proof-of-reserves reports. “This is due to concerns regarding the way these reports are understood by the public,” the company said.
Mazars added that its proof-of reserve reports “do not constitute either an assurance or an audit opinion on subject matter. Instead they report limited findings based on the agreed procedures performed on the subject matter at a historical point in time.”
The accounting firm performed…