Sources
Chainlink
Today, Senator Thom Tillis (@SenThomTillis) and Senator John Hickenlooper (@Hickenlooper) reintroduced the Proving Reserves of Others Funds (PROOF) Act—a critical step toward establishing Proof of Reserve requirements for digital assets. As more real-world assets move onchain, https://t.co/dIk4yfOHSJ
Eleanor Terrett The PROOF Act, first introduced by @SenThomTillis and @SenatorHick in 2023, would ban crypto custodians from co-mingling customer funds and require them to comply with monthly reserve inspections. The bill is designed to help prevent another FTX situation. https://t.co/41JW2jHlIt
Chris Barrett The PROOF Act is back. It makes Proof of Reserves mandatory to prevent another FTX-style collapse. The infrastructure to verify reserves onchain already exists and it’s being adopted. https://t.co/f5JbLmwCwR
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