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Binance, the world's largest cryptocurrency exchange, has taken an important step towards greater financial transparency by partnering with Grant Thornton Singapore. Through this strategic partnership, the Singapore office of the leading UK accounting firm will become Binance's official accounting and tax advisor. The move underscores Binance's commitment to regulatory compliance, especially given the ongoing scrutiny from global regulators. Grant Thornton will advise Binance on technical accounting, financial reporting, audit preparation, and tax matters. The partnership is intended to strengthen Binance's financial governance, align its accounting practices with International Financial Reporting Standards (IFRS), and prepare the transaction for future audits. The move is seen as an important step in building trust among regulators and investors alike. Binance has worked with leading accounting firms in the past. Previously, a Proof of Reserve (PoR) report was prepared by Binance in collaboration with Mazars, a global full-service accounting firm. But Mazars backed out due to concerns about how the results would be received by the public. The partnership comes at a time when Binance is grappling with regulatory issues in several different jurisdictions. In particular, the conversation was about legal issues in Nigeria, including the six-month prison sentence for its top executives. Despite these challenges, Binance continues to expand its operations, most recently entering the South African derivatives market. Binance's Senior Vice President of Finance, Kaiser Ng, emphasized the importance of the partnership, saying it will help Binance harmonize with traditional financial business processes, increase operational transparency, and simplify operations for international authorities. Grant Thornton's Chetan Hans also expressed his excitement about the partnership, highlighting the firm's contribution to Binance's increased openness and regulatory compliance. This collaboration with Grant Thornton Singapore is expected to be crucial in maintaining investor confidence and ensuring Binance's continued prosperity in the dynamic cryptocurrency market.