Trust in Crypto: MEXC’s Proof of Reserves and Treasury Management Practices
In the ever-shifting landscape of cryptocurrency, trust is everything. MEXC, one of the notable exchanges, is trying to assure its users amid concerns about liquidity. By publicly sharing its Proof of Reserves (PoR), MEXC is attempting to show that it possesses more assets than user deposits, which is a move aimed at fostering confidence in its financial stability. But how does this PoR work, and what impact does it have on the broader crypto business compliance landscape?
The Role of Proof of Reserves in Crypto Business Compliance
What exactly is this Proof of Reserves? It’s a tool for crypto exchanges to validate their financial health and build user trust. MEXC’s PoR report reveals that it holds substantial reserves in major…
