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Four big firms urged Indian employees to disclose crypto holdings

Four big firms urged Indian employees to disclose crypto holdings 8

Reportedly four big companies ordered their Indian workers/employees to disclose their digital assets holdings, to remain ready to tackle the future potential interest conflict.

Because of the surge of internet adoption in the world, in the last 15 years, people are getting employment and services all over the world, without any limitations of countries’ boundaries. The majority of the company’s employees are also looking into a crypto investment because they want to get rid of their long-term job or want to enjoy their retirement life more perfectly. But besides all these things, there are some kinds of regulatory issues, because there are few countries that have adopted crypto but there are few which have been banned and other hand many countries are still trying to understand this industry.

Reportedly, Big 4 professional services companies – Deloitte, PwC, EY, and KPMG, urged all the Indian employees to inform about their all cryptos assets holdings.

In the disclosure order, employees are requested to disclose every type of possible Investment in crypto, that can be associated with the NFTs, crypto asset, or any type of another crypto project also.

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The order of these companies also urged the employees to give information about the crypto holdings or Investments of their family members. However, this was part of the annual risk-assessment process.

According to the Economic Times, a person citing this matter said that two companies are asking to disclose the investment of even $0.13.

However, the report also confirmed that such kind of order by these firms wants to ensure that conflict of interest should not take place because around a few years ago people were interested to invest in traditional assets but this new generation wants to invest in crypto and risky assets.

The majority of these firms asked their partners and executives to disclose their interest in Crypto investment but in particular, PwC asked its employees too.

These companies want to tackle the future problems that can also occur because of the inclination towards digital assets based Investment by the Indian employees and executives because the majority of these companies have a direct link with the Indian government and the Reserve bank of Indian.

Read also: Thailand postpones its CBDCs pilot program by the end of 2022

Four big firms urged Indian employees to disclose crypto holdings

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