Tether Audit Passes as Russian Banks Crack Down on Crypto
Russian banks have started demanding that crypto companies register their inclusion in an upcoming Central Bank registry. This move is linked to de-risking ahead of September 1, when cryptocurrency settlements for foreign trade will shift from experimental to permanent practice.
This change will bring stricter compliance and increased costs for businesses, as well as the threat of liability for illegal exchanges.
Tether has undergone its first independent audit by KPMG US, receiving an unqualified opinion on its 2025 financial statements' compliance with US standards. Auditors verified the balance sheet and physically counted gold reserves, which exceeded the company's liabilities by $6.81 billion.
The Solana blockchain faced a potential halt due to a routing failure at provider TeraSwitch, highlighting risks of centralized infrastructure and drawing criticism from institutional investors.