Cryptio, a crypto accounting, audit and tax software provider, has announced that it will now allow Filecoin miners to extract auditable transaction logs from its blockchain. Filecoin is a decentralized storage marketplace that rewards network participants for storing and retrieving files. This new feature will help miners to easily access and track their Filecoin transactions, making it easier to manage their finances. With this new feature, Cryptio is helping to make Filecoin mining more efficient and secure.
Filecoin, a decentralized storage protocol, has announced that its miners, or storage providers, will be able to generate accounting reports needed to pass their public company accounting oversight board (PCAOB) financial audits. Currently, there are over 4,000 storage providers on the Filecoin network. This new feature will enable miners to easily generate the necessary reports and provide greater transparency and accountability for the Filecoin network. This will also help miners comply with the PCAOB’s regulations and ensure that their financial records are accurate and up-to-date. With this new feature, Filecoin is taking a step towards greater transparency and accountability, making it easier for miners to comply with the PCAOB’s regulations.”
A decentralized storage network, Filecoin, has partnered with CoinTracker to provide miners with the ability to import all on-chain activity and complete accounting, reporting, tax, and audit preparation. This partnership will help miners meet the high standards required by auditors and regulators, allowing them to better manage their finances and remain compliant with the law. CoinTracker’s automated platform will provide miners with a comprehensive view of their Filecoin transactions, enabling them to accurately track their income, expenses, and taxes. With this partnership, Filecoin miners can now easily and accurately manage their finances, ensuring they remain compliant with the law.
Publicly traded bitcoin miners such as Marathon Digital (MARA) and Riot Platform (RIOT) have seen a massive exodus from investors during the recent crypto winter, which included a slump in bitcoin prices and rise in energy costs for the mining companies. Currently, there are not many dedicated Filecoin miners that are publicly traded, and it remains to be seen whether there is an investor appetite for more miners, particularly for Filecoin storage providers. As the crypto market continues to evolve, investors should keep an eye out for new opportunities in the space, such as Filecoin miners, that could potentially offer higher returns.
Cryptio is providing accounting services to Filecoin miners, whether they decide to go public or not. The software helps miners with one crucial step towards a potential public listing by providing financial infrastructure that allows them to do their accounting and reporting in an auditable way. This makes it easier for private companies to go public, as having accounting reports is an important step in the process. Cryptio’s head of revenue, Hemant Pandit, states that Filecoin is a complex chain and hard to ‘index’ unlike Bitcoin, making it difficult to go public without this infrastructure. Cryptio’s software helps miners to take the necessary steps towards a potential public listing.
It helps enterprises across 12 blockchains, including Ethereum and Bitcoin, to meet the higher audit standards set by the Securities and Exchange Commission. Cryptio currently serves more than 300 enterprises, including MetaMask, 1inch, and Chivo, and has helped large Filecoin miners who were blocked by the SEC’s audit standards to go public. With Cryptio, enterprises can easily manage their finances and ensure compliance with the SEC’s regulations. Cryptio’s services are designed to help businesses stay compliant and secure, while also providing a reliable and efficient accounting infrastructure.
