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Bank of America Says Crypto Exchanges' Proof of Reserves Have Too Many Shortcomings

The cryptocurrency industry also needs a clear delineation between trading platforms and market makers, the bank said.

Merkle trees provide proof of reserves, but that may not be enough, Bank of America said. (Pixabay)
Merkle trees provide proof of reserves, but that may not be enough, Bank of America said. (Pixabay)