Summary
- Senators Tom Tillis and John Hickenlooper have reintroduced a bill regulating reserve requirements for virtual asset custodians.
- The bill includes a ban on commingling customer funds and mandates monthly reserve audits.
- It is stated that the bill is designed to prevent another FTX incident.
On the 11th (local time), US Senators Tom Tillis and John Hickenlooper reintroduced the previously proposed Proving Reserves of Others Funds (PROOF) bill. According to Eleanor Terrett's X (formerly Twitter) account, the bill prohibits the commingling of customer funds by virtual asset (cryptocurrency) custodians and mandates monthly reserve audits. It is explained that the bill is designed to prevent another FTX incident. 
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
