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KPMG in Canada adds crypto assets to its treasury

Tuesday 8 February 2022 14:49 CET | News

KPMG in Canada has completed an allocation of crypto assets to its corporate treasury, the firm's first direct investment in crypto assets.

The allocation includes Bitcoin (BTC) and Ethereum (ETH), as well as carbon offsets to maintain a net-zero carbon transaction to deliver on the firm's stated environmental, social and governance (ESG) commitments.

KPMG established a governance committee to provide oversight and approve the treasury allocation. The committee included stakeholders from Finance, Risk Management, Advisory, Audit and Tax, and it undertook and completed a rigorous risk assessment process that included a review of regulatory, reputational, and custodial risks. KPMG specialists also assessed the tax and accounting implications of the transaction.

KPMG in Canada acquired Bitcoin and Ethereum on its balance sheet through Gemini Trust Company LLC's execution and custody services.

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Keywords: Bitcoin, Ethereum, digital assets, treasury
Categories: DeFi & Crypto & Web3
Companies:
Countries: Canada
This article is part of category

DeFi & Crypto & Web3






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